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/biz/ - Business & Finance


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23914206 No.23914206 [Reply] [Original]

I admit I'm retarded, but...

I need Federal and CA State Tax with holding amount help.

When I divide my gross taxable income by the Federal tax withheld it only comes out to 15%.

That doesn't sound right to me.

I did the Income Tax Assistant from the IRS and it said I deducted the correct dollar amount.

Wat do?

>pic not related

>> No.23914254
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23914254

>>23914206

She is currently passing a massive turd

>> No.23914285

>>23914206
You're doing nothing wrong.

>> No.23914305
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23914305

>>23914206
Taxfag here. You did it right. Being in the 25% tax bracket doesn't mean 25% of all your income goes to taxes. It means 0% of your first $X is taxed, then 10% of your next $Y is taxes, then the remainder is taxed at 25%. The result is in the 25% bracket you probably only pay 15% effectively. If you are really curious, check these tables. https://www.irs.com/articles/2020-federal-tax-rates-brackets-standard-deductions/

>> No.23914421
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23914421

>>23914305
Thanks bro I just don't want to get screwed next filing time.

>> No.23914446

Who’s that man

>> No.23914542

>>23914206
Source

>> No.23914572

>>23914305
This is why we should teach taxes in school.

>> No.23915280

>>23914542
Come on. I love redheads tell me

>> No.23915667

>>23914206
You know the economy is fuck when downs chicks can make it in porn

>> No.23916112

whos this. tell.