Help - Search - Members - Calendar
Full Version: Help
MoneyMakerGroup > MoneyMaking: Markets, Real Estate, Banking, and Investments > Personal Finance > Taxes & Legal Discussion


danewdesign
Hi, I was wondering if anyone can help .... I work as a FedEx Ground Driver and my employer does not take taxes off my checks .... He's paid me like $20,000 this past tax year ..... Does anyone know if I'm gonna owe a lot ... and if so, is there any way to reduce the amount atleast .... Thanks
realist
QUOTE (danewdesign @ Feb 21 2008, 01:07 AM) *
Hi, I was wondering if anyone can help .... I work as a FedEx Ground Driver and my employer does not take taxes off my checks .... He's paid me like $20,000 this past tax year ..... Does anyone know if I'm gonna owe a lot ... and if so, is there any way to reduce the amount atleast .... Thanks


Is there a Government site you can look at which will help you gauge your tax due?
Ryz*
QUOTE (danewdesign @ Feb 20 2008, 09:07 PM) *
Hi, I was wondering if anyone can help .... I work as a FedEx Ground Driver and my employer does not take taxes off my checks .... He's paid me like $20,000 this past tax year ..... Does anyone know if I'm gonna owe a lot ... and if so, is there any way to reduce the amount atleast .... Thanks


If he's not taking any FICA taxes out of your checks, that probably means you are registered as an independent contractor. If this is the case, at the end of the year you will receive a 1099 form and be responsible for paying back about 15% of your overall income toward SS and Medicare.

This does NOT include any other income tax you may owe.

And, if I remember the U.S. tax brackets correctly, an income between $8,000 and $32,000 requires a 15% tax on your annual income.

Unless you have any expenses to write off, you're looking at around $6,000 in taxes.
This is a "lo-fi" version of our main content. To view the full version with more information, formatting and images, please click here.