topic I made a total of approximiately $13,000 last year. Why are my taxes almost $2,000? This sounds crazy! W/standard deduction, this should at most be $1,000. in Get your taxes done using TurboTax

I made a total of approximiately $13,000 last year. Why are my taxes almost $2,000? This sounds crazy! W/standard deduction, this should at most be $1,000.

jackson92186 — Sat, 01 Jun 2019 00:50:07 GMT

Was your income from W-2 wages or was it from 1099-MISC w...

jerry2000 — Sat, 01 Jun 2019 00:50:08 GMT

Was your income from W-2 wages or was it from 1099-MISC wages? Or was it from something else? What, exactly was the income from?

1099 misc. From real estate commissions. Even at the 15%...

jackson92186 — Sat, 01 Jun 2019 00:50:11 GMT

1099 misc. From real estate commissions. Even at the 15% tax bracket with the standard deduction, shouldn't the tax be closer to $1,000?

When you have self employment income, you pay self-employ...

jerry2000 — Sat, 01 Jun 2019 00:50:12 GMT

When you have self employment income, you pay self-employment tax (for social security and medicare) in addition to ordinary income tax. The SE tax rate is 15.3% of 92.35% of your self employment income. So, your actual tax on your net income will be the SE tax plus ordinary income tax. It is not crazy, that is just the way that it is.

jeeze. Just seems rather high. I'm all about paying taxes...

jackson92186 — Sat, 01 Jun 2019 00:50:13 GMT

jeeze. Just seems rather high. I'm all about paying taxes but to have to fork over $2,000 when your annual income is $13,000 seems to be exorbitant

The tax rates are what they are. If you have a strong opi...

jerry2000 — Sat, 01 Jun 2019 00:50:15 GMT

The tax rates are what they are. If you have a strong opinion about that , then you should share it with your elected representatives. Congress decrees what the tax rates are and only they can change them.

EVERYBODY pays 15.3% social security & medicare tax. It's...

Hal_Al — Sat, 01 Jun 2019 00:50:16 GMT

EVERYBODY pays 15.3% social security & medicare tax. It's less painful when it comes off your weekly pay check and your employer "pays" half of it. The employer doesn't really pay half as he takes that into consideration in deciding what the employee's pay will be.
0.9235 x $13,000 x 0.153 = 1836.84
2000 -1837 = You paid $163 actual income tax