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Additional Details
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donthatemecuzuaintme | Just did my 1040ez and it says I owe, but this doesnt seem right?!?!? |
I made $13,647.34 (my AGI).
I am single, and am dependent on myself; so my deduction is $5,350
Taxable Income: (Income - Deduction) = $8,297.34
Federal Income Tax Withheld was: $812.75
Per the tax table, my tax = 850.00
So, I paid $812.75, and I was supposed to pay $850.00, so I owe $38.00 ?
My federal income tax, social security tax and medicare tax totaled $1,826.99. Can the government really take almost two grand from me and I still owe them!?!? I only made $13,000!
Thanks so much for your time |
 |
 
ToYsTeMpTer
 |
I think you made a mistake, or gave us the wrong numbers.. By the numbers you gave here you should be getting back around $323 not owing... maybe you should have someone look at your taxes for you, without the proper knowledge you can really screw yourself...
also you failed to mention above your personal exemption... does that mean someone else can claim you??
email me if you have any questions.. I am positive you should get back money not owe..
AGI.. 13647
standard deduction ... 5350
personal exemption... 3400
taxable income 4897
tax 490
fed withholding 813 (rounded to nearest $)
resulting in an overpayment of 323
refund $323 |
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bostonianinmo
 |
If you are claimed as a dependent by another taxpayer then your numbers are correct.
If you are NOT claimed as a dependent by another taxpayer then you forgot to claim your personal exemption of $3,400. That would reduce your taxable income to $4,897 and the tax to $490. You would then be looking at a refund of $323. |
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stephenweinstein
 |
1. $1826.99/$13647.34 is less than 15%, which is actually fairly low.
2. If no one else can claim you as a dependent, then you can claim an exemption for yourself. As several other answers note, this reduces your taxable income by a few thousand dollars and results in a refund.
3. If anyone else CAN claim you as a dependent, whether or not they actually do so, then you cannot claim yourself. |
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v b
 |
If you are in fact dependent, the numbers look right.
You managed to get all the way up to the 15% tax bracket....Owing $38 isn't very off. If you don't like it, lower the allowances on your w-4. (The idea of the W-4 is to break even.) |
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njoy1boi
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I am not sure what you did except for left off your exemption and I am not sure if someone else can claim you or not, but If you file claiming your exemption as well as your standard deduction then you would get back $325.00 |
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mencey007
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Welcome to your reality. |
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wartz
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You missed something somewhere.
$13,647 minus $5,350 standard deduction minus $3,400 for one exemption produces taxable income of $4,897 taxable at 10%. |
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alwaysmoose
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Thats how they do it. Sorry.
make sure you claim as few allowances as possible and stop renting. Renting really puts the hurt on you tax wise as opposed to owning. |
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Alex R
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Yes they can. You paid only $813 in federal income tax, the rest goes into Social Security and Medicare, of which none is tax deductible or reduces your taxable income.
You are not in the boat alone, all of working Americans pay into these systems.
Be thankful that all you owe is $38 and not a lot more. Perhaps when you fill out your W4 you need to make sure you a claiming the correct exemptions. You should claim at least 2 exemptions being single with no kids. If you had previously claimed 0 exemptions this is why you probably owe taxes while making a small amount. |
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sapphire_630
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You are doing something wrong and they should have caught it and sent that back to you.
They should have sent you around $300. to $850.
and you should be eligible to receive earned income credit. |
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