If I make $45,000.00 a year how much fed. & state taxes will I pay?

Question

I am 27 years old. I go to school. I am single and have paid over 4,000. in medical bills.

Answer 1

Take $45,000 and reduce it by your standard deduction of $5,150 and personal exemption of $3,300 to get to $36,550 taxable income. According to the 2006 tax schedule, your federal tax would be:
$4,220
+(36,550-30,650)*.25 = 1,475
=$5,695 federal
state tax varies by state, but assuming you don't live in one of the non-tax states like Texas, you can estimate by taking Federal AGI of $45,000 and reduce by $2,000 and multiply by 5% (45,000-2,000)*.05 = $2,150

This all assumes that you have no above the line deductions and no itemized deductions.....

Answer 2

That depends on if you single and don't have child support or that you have a family and which state you living in. for a single person making $45,000 you will pay 25% for Federal Tax and another 4-7% in State Tax which would $45,0000*25% + 45,000*5.5% = about $9,225

Answer 3

There are way too many variables and you provided too little information to give an answer that is even able to be close to accurate.