Question

taxable rate

Forum|Forum|2 years ago
April 14, 2024
1 reply
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Question: I am confused as my taxable income is in the 12% tax rate but I am being charged more. Why is that? I am being charged 16% for my federal taxes. Last year I was charged 15%. I am filing married jointly.

R

RobertB4444

It's impossible to say without reviewing your tax return. If you had any self employment income then there would be self-employment taxes. There may also be interest or penalties. I would recommend comparing your return to last year's and figuring out where the differences are before you file.

@terimac4

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T

terimac4Author

I took into account the self employment taxes and a small penalty, but my taxable income falls within the 12% and my tax is 15%. I just don't get it.

DawnC

Employee

Self-employment tax is in addition to any ordinary income tax you owe. Do you have Schedule 2 in your tax return? Look on line 4 - If there is an amount, you have self-employment tax.

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