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Im self employed, why is my federal tax due so high?
According to turbo tax my net income is $33,142. My taxable income is $10,736. and im being charged $5,780 in federal tax and 1,510 in state. This seems really high for someone who's self employed and making under 40K a year? Could this be correct or am i missing something?
May 12, 2021
1:42 PM