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I only make about $41,000 per year. I don't know why I'm paying so much in taxes.

I paid over $1000 in state and federal taxes combined.  Is this unreasonable for my income level?
1 Reply
IsabellaG
Employee Tax Expert

I only make about $41,000 per year. I don't know why I'm paying so much in taxes.

This is in line with the tax rates for 2016. Assuming that you are single, your gross income of $41,000 would result in a taxable income of $30,650 if you took an exemption for yourself ($4050) and the standard deduction ($6300).

That means you'd be in the 15% tax bracket. Your tax would be computed as $927.50 plus 15% of the amount over $9,275. 

Of course, you may have other details that aren't considered here.

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