If I have a tax breakdown showing 19,750 total income, 14,827 deductions, 4923 taxable income, and blended tax rate 66.7% owing 3284? How is this possible?

Did you have any self-employment income? Then you will also have to pay a Self-employment tax (SE) which you can find on Schedule 2 line 4 on top of the regular income tax. The SE tax rate is 15.3% with 12.4% for Social Security and 2.9% for Medicare.

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If I have a tax breakdown showing 19,750 total income, 14,827 deductions, 4923 taxable income, and blended tax rate 66.7% owing 3284? How is this possible?

I did freelance work through my single person Arizona LLC. I am not sure what that counts as for tax purposes.

If I have a tax breakdown showing 19,750 total income, 14,827 deductions, 4923 taxable income, and blended tax rate 66.7% owing 3284? How is this possible?

You federal tax liability is $2,791 of self-employment tax and $493 of income tax. Self-employment tax is calculated on your self-employment income without any regard for income-tax deductions.

If I have a tax breakdown showing 19,750 total income, 14,827 deductions, 4923 taxable income, and blended tax rate 66.7% owing 3284? How is this possible?

Ok thank you. I have no idea how I am going to pay that amount especially with things as they are. Anyway, thanks for the answers.

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If I have a tax breakdown showing 19,750 total income, 14,827 deductions, 4923 taxable income, and blended tax rate 66.7% owing 3284? How is this possible?

If I have a tax breakdown showing 19,750 total income, 14,827 deductions, 4923 taxable income, and blended tax rate 66.7% owing 3284? How is this possible?

If I have a tax breakdown showing 19,750 total income, 14,827 deductions, 4923 taxable income, and blended tax rate 66.7% owing 3284? How is this possible?

If I have a tax breakdown showing 19,750 total income, 14,827 deductions, 4923 taxable income, and blended tax rate 66.7% owing 3284? How is this possible?

If I have a tax breakdown showing 19,750 total income, 14,827 deductions, 4923 taxable income, and blended tax rate 66.7% owing 3284? How is this possible?

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If I have a tax breakdown showing 19,750 total income, 14,827 deductions, 4923 taxable income, and blended tax rate 66.7% owing 3284? How is this possible?

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If I have a tax breakdown showing 19,750 total income, 14,827 deductions, 4923 taxable income, and blended tax rate 66.7% owing 3284? How is this possible?

If I have a tax breakdown showing 19,750 total income, 14,827 deductions, 4923 taxable income, and blended tax rate 66.7% owing 3284? How is this possible?

If I have a tax breakdown showing 19,750 total income, 14,827 deductions, 4923 taxable income, and blended tax rate 66.7% owing 3284? How is this possible?

If I have a tax breakdown showing 19,750 total income, 14,827 deductions, 4923 taxable income, and blended tax rate 66.7% owing 3284? How is this possible?

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