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If I receice a 6000.- 1099 misc, and have no deductions; how much approximately is the combinef tax amount for federal and CA state tax

 
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3 Replies
DianeW
Expert Alumni

If I receice a 6000.- 1099 misc, and have no deductions; how much approximately is the combinef tax amount for federal and CA state tax

The federal tax and California tax depends on what tax bracket you are in when all income is combined on your tax return.  The following formula will provide information on how you would determine the amount of tax on this income only.  

For self employment income you have personal income tax (assuming 15% bracket) and self employment tax (15.3%) on the self employment income reduced first by half of that tax rate.

The estimated income tax on this amount without any deductions is shown below.

  • Self employment tax:  $6,000 x .9235 x .153 = $848 
  • Personal estimated income tax: (federal):  $6,000 x .15 = $900
  • CA estimated income tax: $6,000 x .06 = $360
  • Total estimated income tax on $6,000 = $2,108

If I receice a 6000.- 1099 misc, and have no deductions; how much approximately is the combinef tax amount for federal and CA state tax

If have made $6000 full 1099- mic and I have no deductions how much will I pay?

DaveF1006
Expert Alumni

If I receice a 6000.- 1099 misc, and have no deductions; how much approximately is the combinef tax amount for federal and CA state tax

Please use this Turbo Tax link to determine your taxable income and tax liability.

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