Gross Income Wiki
Question: How can I calculate my total tax liability for 2008?
Using the tax brackets I found on the wiki:
10%: from $0 to $8,025
15%: from $8,026 to $32,550
25%: from $32,551 to $78,850I’m filing single for this year and I expect an income of roughly $59,000. From what I understand, this makes my Taxable Income (gross less standard deduction of $8,950) to be about $50,000. So if I use those brackets, I should owe
10% on $8,025 = $802.5 +
15% on $24,525 = $3,678.75 +
25% on $17,260 = $4,315
—————————————–
$8796.25 total in taxes for this year.Are these calculations correct? I had originally claimed zero dependents and so more than necessary was taken out of my paycheck ($5,230 so far). Does this mean that for the rest of the year I will only need to pay $3566.25 in taxes? Should I adjust my number of dependents so that only this amount is taken from my remaining paychecks?
Answer: Complete Form 1040-ES for 2008. If you have your income right, you should be fine.
I would put in the link but Answers is choking on links right this minute.
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Question: Can I e-file my 1040 this year when I filed a 1040NR last year?
Hey,
In 2008 I was here in the US on a J-1 visa, so I filed a 1040NR. In January 2009, I switched over to a H-1B visa and according to the substantial presence test I can file a 1040 for 2009 as I am a US resident for taxpayer purposes (been here the whole year). My question is, can I e-file using internet software? The tax software asks me for the adjusted gross income of 2008 and the file type of 2008, but only offers 1040, 1040A, 1040EZ and 1040X, but not 1040NR. So the question is, is it possible to e-file?
Thanks, Lutz
I haven’t paid yet. I am using the online version of TurboTax where you pay in the very end. What consequences can there be if I do what you suggest?Answer: If you have already paid for the software, I’d just select 1040 and see if it goes through.
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