2007-08-09 17:57:10 · 4 answers · asked by Surf Dude 1 in Business & Finance ➔ Taxes ➔ United States
I live in Los Angeles, California.
2007-08-09 17:58:06 · update #1
There are far too many things your question doesn't say to 5give you an answer.
I'm assuming you are saying that this income is as an employee. They would take out 7.65%, or a little over $4200, for social security and medicare. If you are single, no dependents, no adjustments, and don't itemize, you'd pay about another $8000 for federal income taxes.
California will also get you for a significant amount - not sure exactly how much since there is more than one tax involved.
2007-08-09 18:15:24 · answer #1 · answered by Judy 7 · 1⤊ 0⤋
Way too many variables to say. Your age, dependency status, marital status and filing status, number of dependents, source of income, itemized deductions, etc. all figure prominently into the calculations. It could range from nearly zero to over $15k.
2007-08-10 07:58:57 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
If you are single and without dependents, don't contribute to 401(k) or any other tax-deferred accounts, don't have any deductions (like student loan interest and the like), you'll take approximately $39,898.
2007-08-10 03:52:27 · answer #3 · answered by teehee 3 · 0⤊ 0⤋
About one third goes to Uncle Sam and other taxes.
2007-08-10 01:03:19 · answer #4 · answered by sidekick 6 · 0⤊ 2⤋