Money help: I made 22,000 this year (2008) Feb-December. - Help.com

The amount of tax withheld or eventually paid also depends on may things…obviously which state (or even city) your in, the amount of income your projected on earning over the year, (which helps determine your tax bracket and the percent that may be needed), as well as your filing status, number of dependents and other deductions (like interest paid on a home, charity, medical expenses, etc). For withholding, all these things can be adjusted for your circumstances by properly and completely filling out (or changing) the Form W-4 all employers ask you to, and then properly reporting them on your 1040.

Finally, there are a number of different legal ways for the payroll provider to calculate certain aspects of the amount to withhold…but overall they make only a small difference.

Remember, anything withheld is just being done as an estimated installment payment toward whatever tax, if any, you do ultimately owe. If too much is withheld, it is refunded. (Too little, and you could pay a penalty). Again, adjusting your W-4 is the way to correct for any of these circumstances

How much did they withhold for fed tax in your paychecks?

At 22,000 with a standerd deduction of about $6,000 means that this year you will be taxed on about $16,000 of your income. At $16,000 of income you are expected to pay 15% to the Federal government. So they will want you to pay $2,400 in tax.

So knowing that you will pay the Fed about 2,400; add up what they withheld over the year and subtract. That’s approximately how much you will be getting about.

There is no rebate checks this year. Your out of luck there. Hope this helps :-)

$22,000 is my Gross not Net. My Federal Withholdings is about $2300.00, State (California-Los Angeles) is about $350.00. On the W2 my total withholdings(line H) is 1. I claim myself only. No rebate for 2009 = Sucks.

So if they withheld $2300.00 and you stand to pay $2,400. You’ll get back less than $150 from the Fed. From CA you’ll most likly get back a simlar ratio of about $20 of the $350.

Opps my math was wrong. It looks like you may have to pay taxes this year.

Here is how it works:

Subtract your gross income from the federal standard deduction to get your taxable income. The Fed gives you around 6,000 of deduction from your gross because you are single and are not clamed as a dependent and don’t have any dependents.

$22,000; Gross pay
$6,000; Standard deduction

$16,000; Taxable income

$16,000 is what the Fed government pretends you made this year to be taxed; they give you a $6,000 grass that they wont tax.

So of $16,000 income you must pay a 15% tax coming to about $2,400 that you owe in your yearly Federal taxes this year.

Since they already withheld 2300.00 and you will owe around $2,400; that leaves around $100 you still owe them.

Now this is just an approximation; I am not certain what the standard deduction for this year will be $6000 is just a number that is close to what it should be. So you may get lucky and in fact come out on top about $50; say if the deduction is $7000 (it wont be more than this which is why I used it). It may also be less then $6000 in which case you will be paying more then $100.

If I where you I would assume either you will wind up paying $150 to nothing or perhaps getting back $50 if your lucky.

You know that you can go to the post office and get your fed and state tax returns also at some supermarkets, malls, tax return places and just do a workup of what you think your going to be getting its also easier when you have most of it filled out before you get ready to do the final draft. That way you dont have to ask. Hope this helps :-)

What if i was claimed as a dependent, will that make any tremendous changes?

Anonymous wrote:
What if i was claimed as a dependent, will that make any tremendous changes?

yea you would pay more

Da⌐11 wrote:

Anonymous wrote:
What if i was claimed as a dependent, will that make any tremendous changes?

yea you would pay more

But your parents might get a better brake; so you need to look it like that. You pay more, but they get back more than that. So as a famly it may be better to be a dependent.