I live in Ca. I was rencently employed but instead of w-2 forms, instead i get form 1099. so I have to deduct my own state tax. I know self-employed tax is 15.3%
I don't know what the state tax is, nor the federal income tax, Please HELP!
2007-03-29 11:21:32 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Here's the state tax rates for the various states: http://www.taxadmin.org/fta/rate/ind_inc.html
And here's a link to the federal tax tables. Note that your taxable income is after your deductions and exemptions have been subtracted: http://www.irs.gov/pub/irs-pdf/i1040tt.pdf?portlet=3
2007-03-29 11:30:00 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
Download the Form 1040ES package. Here's a link: http://www.irs.gov/pub/irs-pdf/f1040es.pdf Fill out the worksheet to estimate your taxes and start making your estimated tax payments. The first payment is due on April 17, 2007. Three more are due in June, September and January, 2008.
CA has a similar package at the FTB website. Download it and make your quarterly payments to them as well.
2007-03-29 12:10:07 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
depends on where you live i live in S.F and the tax here is 8.25
2007-03-29 11:25:42 · answer #3 · answered by ashlandtree 3 · 0⤊ 0⤋