2007-10-18 10:45:29 · 3 answers · asked by dahliacute 1 in Business & Finance ➔ Renting & Real Estate
Depends upon your tax bracket, and whether this income pushes you into a new one.
Here's this year's tax schedules so you can work it out:
http://www.irs.gov/formspubs/article/0,,id=164272,00.html
PS. Here's an IRS link on a temporary relief program you may want to investigate:
http://www.irs.gov/newsroom/article/0,,id=174022,00.html
PPS Don't forget state income taxes if your state has them!
2007-10-18 11:27:07 · answer #1 · answered by Searchlight Crusade 5 · 0⤊ 0⤋
Taxes on a 1099 are treated like a bonus you would get at work, or if you cashed out your retirement savings.. Combined with local state, and federal around 30 to 36% dependent upon state and local taxes. So 15K to 18K is in the general realm
2007-10-18 12:15:56 · answer #2 · answered by Pengy 7 · 0⤊ 0⤋
Depends on your income tax bracket. What is yours?
2007-10-18 11:18:03 · answer #3 · answered by Anonymous · 0⤊ 0⤋
im guessing and literally just guessing about: $6,500
2007-10-18 10:53:27 · answer #4 · answered by GG 7 · 0⤊ 0⤋