2007-10-24 03:41:17 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Single, and no other variables. Just $40,000 earned income.
2007-10-24 03:49:51 · update #1
There are way too many variables to give you an answer that is even close to accurate.
2007-10-24 03:46:22 · answer #1 · answered by Wayne Z 7 · 1⤊ 0⤋
If you are Single and if it is earned income from wages (not self employed) then
social security tax @6.2% is $2480
medicare tax @1.45% is $580
federal tax $4296
Thus total taxes $10416, take home amount $29,584
If it is self employed income, then social security and medicare taxes become double.
2007-10-24 07:07:53 · answer #2 · answered by MukatA 6 · 0⤊ 0⤋
Around $4376 for federal income tax.
2007-10-24 03:53:35 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
If you are claiming one then I minus 18% and it is a little less than that figure I find in general it is not exact but it comes real close hope this helps
2007-10-24 03:56:51 · answer #4 · answered by Daniel l 1 · 0⤊ 0⤋