2007-03-04 07:09:59 · 4 answers · asked by KIMBERLY N 1 in Business & Finance ➔ Taxes ➔ United States
It depends on whether you have other income and how much, your filing status, and what adjustments, deductions, exemptions and credits you have.
In addition to regular income taxes on the amount, you'll owe self employment tax of 15.3%
2007-03-04 07:40:31 · answer #1 · answered by Judy 7 · 2⤊ 0⤋
Go to www.taxact.com and fill out an imaginary tax form to find out. It will be a lot. You will also owe local and state taxes as well as a hefty social security tax. Or for free, you can really do your federal taxes at www.taxact.com - they charge for local and state.
2007-03-04 07:21:08 · answer #2 · answered by chimneygod 3 · 0⤊ 0⤋
Depending on your filing status it would be as follows:
Single filer=2,626
married filing jointly=2,249
married filing separate =2,626
head of household=2,466
Info obtained from Pages 62 thru 72 of instructions for 1040a
2007-03-04 08:04:39 · answer #3 · answered by houseswife 2 · 0⤊ 1⤋
if you dont have any deductions i beleive its around 15 to 20%
2007-03-04 07:28:10 · answer #4 · answered by max 1 · 0⤊ 0⤋