31 Oct 09 I make $53,000 a year and taxed $16,000 so far is that right?
Tags: advice, money, Mortgage, Property Tax, Tax Return, Taxes, Turbo Tax
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Tags: advice, money, Mortgage, Property Tax, Tax Return, Taxes, Turbo Tax
You haven’t provided enough information to give you an answer. Try using this calculator:
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I’m not sure about your state tax because I am not a CA resident, as far as the Federal tax you are paying, that does seem quite a bit. The best place to find information on what you are paying is the IRS. Try using this calculator:,,id=96196,00.html
Hope this helps!
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It doesn’t sound like you have anything very complicated, so you don’t need a highpowered tax person – TurboTax should work for you. Without knowing the breakdown of the $16K, or your filing status, it’s a little hard to tell what you’d get for a refund. The mortgage interest and real estate taxes will probably help you itemize.
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By all means use Turbo Tax,. It seems you have paid to much. I estimate your Federal income tax to be about $7,100.
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seany187,
Turbo tax will work if you can follow it.
Lets see:
Federal
Wages $53,000
Interest Income ? from real estate tax escrow account?
Dividend Income ?
Refund CA 2007 ?
Total Income
Itemized Deductions
State and Local taxes withheld from W-2
RE Taxes paid $ 5000.00
Mortgage Interest $ 1700.00 less principal and re escrow
(Both Items from IRS form 1098)
Contributions
Cash -Church etc..
Non Cash-IRS form 8283
Unreimbursed Business Exoenses
Exemption $3500
Taxable Income
Federal Withheld
Balance Due (Refund)
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