Yearly taxes at almost thirty thousand?

Question

I have a friend who had to pay almost 30,000 (thirty thousand), in taxes.. what kind of yearly income makes u pay that much? I was too shy to ask, and people can feel funny to answer.. So I am here, asking..

Answer 1

You really didn't provide enough information to answer this question properly. For instance, is this friend married, any children, is your friend self-employed, etc.

If your friend is self-employed and single and their total earnings were $100,000. They would pay approximately $14,700 in social security and medicare taxes and approximately $15,700 in federal income taxes.

If your friend is married and has kids and has a regular job and can itemize deductions, then they would have to make probably close to $140,000 to have $30,000 in total taxes.

If you are only discussing federal income taxes, then your friend would have to make probably close to $180,000 gross.

Answer 2

Around 100K if it includes FICA, Medicare, Federal and state income tax and he can't itemize.