Hello Everyone,
I am self-employed and paid my estimated taxes this year (not shown on chart). When I finished on turbo tax I see that there is a 38.7% blended tax rate- I am not sure how this number was arrived at. Does the below info look correct?
Your Tax Breakdown2022
| Total Income | $145,004 |
| Deductions | - $47,556 |
| Taxable Income | $97,448 |
| Blended Tax Rate | x 38.7% |
| Tax LiabilityThis is how much you were supposed to pay in taxes. | $37,706 |
