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View Full Version : Tax Question
krispyrice1230
02-06-2006, 07:57 AM
I just did my taxes and after dedutiond the irs wants 25%!!!! Does this ound right, or have I done something wrong? If this is right, it is very depressing. smileys/smiley19.gif smileys/smiley11.gif It really stink to work until March just to pay the IRS!smileys/smiley7.gif
collegegirl
02-06-2006, 12:20 PM
Look here
http://www.irs.gov/pub/irs-pdf/i1040tt.pdf
Notice tax rate schedules at the bottom.
Is this the question you are asking
http://www.irs.gov/pub/irs-pdf/i1040tt.pdf
Notice tax rate schedules at the bottom.
Is this the question you are asking
healyourself
02-07-2006, 10:17 AM
You shouldn't have to pay that much in taxes. You need to speak to an accountant or someone else that is very familiar with the tax benefits of having a home-based business. If it is done properly, you should be able to write most of that off.
krispyrice1230
02-07-2006, 10:48 AM
I have written off everything I can. My uncle is a an accountant and knows about deductions, but is not familiar with the tax rate for home based businesses. Anyway, after all of my deductions, the IRS wants 25% of what I made for self-employment taxes. smileys/smiley11.gif
