Question


Henry

Is all my income taxable?

So 2 years ago i filed my own taxes. I made 16k that year on a 1099 form. How much of that 15k is taxable? i believe i paid close to 3k in taxes. Does this mean i gave the IRS too much Money? If so is there a way to get it back???

3 weeks ago - 3 answers

Best Answer

Chosen by Asker

Social security and medicare tax is 15.3% of your salary so that would be $2,295. Federal income tax should have been about $650 if you were single and claimed yourself as an exemption. Therefore, you paid approximately the correct amount. However, if you had business expenses, the amount owed could have been significantly reduced.

by Mike

3 weeks ago

Asker's Rating: 

Other Answers

That sounds about right.

by Max Hoopla- 3 weeks ago

you can file amended returns for three years from the date of the return due date, that would be April 15, 2010 for a 2006 tax return

by tro- 3 weeks ago