"weird but today I am getting completely different results."
Does this means that today you are being assessed the tax you expect?
If not, in addition to what FangxiaL listed above, I have found that going from employee to self-employed status often offers quite the sticker shock. This is because in addition to your 12% federal income tax, you also have to pay self-employment taxes (the equivalent of Social Security and Medicare - only you have to pay all 15.3% of it and not share it with your employer).
This means that instead of being taxed at 12%, you are taxed at 27.3% (12% + 15.3%) - I have seen taxpayers make a new business and think that they are well-off, until they see the tax bill.
Well, hopefully, things have righted themselves.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
