English Deutsch Français Italiano Español Português 繁體中文 Bahasa Indonesia Tiếng Việt ภาษาไทย
All categories

My husband is self-emplyed and I just started a job.
I know there is a form from the IRS that you can see how much taxes you have to pay if you make X money, anybody knows what's that web page?

is the % of taxes different for self-employed (and only employee) , and another % if employed by a company?

2007-12-06 13:47:42 · 1 answers · asked by Anonymous in Business & Finance Taxes United States

1 answers

If you file a joint return and don't itemize and don't have any adjustments, federal income tax would be around $3614. If the third person is your dependent child under age 17 as of the end of the year, subtract $1000 for the child tax credit giving tax of $2614.

Income taxes are the same for the same income whether you are an employee or self employed. But if you are self-employed, you pay both halves of social security and medicare rather than just the employee half.

2007-12-06 14:54:28 · answer #1 · answered by Judy 7 · 0 0

fedest.com, questions and answers