Big tax question?

Question

How much should a 26 year old single man pay in taxes when he earned 14,000 dollars in employment, 34,000 in self employment, and had 15,000 in expenses? In Indiana, although the self employment was in kentucky?

Answer 1

Assuming the expenses you mention are all eligible expenses associated with the self-employment income, probably around $3300 income tax plus around $2750 for self-employment tax (for social security and medicare), for a total of around $6050. This is for federal - any state or local taxes would be additional to that.