Do you really think that's all there is to it? Much more goes into the determination.
See, that's why there are all those companies and software sellers with programs, etc, etc that do this for people, and entire professions with lots of busy people, many advertising to get your business, all those silly tax forms to be completed and laws about what is what...and so many people get in trouble for doing it wrong or fraudulently thinking there are short cuts or they can out smart it...and even more that think it is simply to hard to understand.
Virtually no 2 people with even the same job and income pay the same tax.
$3000
29 ¢
what should be my tax code for earning 118,000
Not sure how much he earned but the state of Ohio had to claim $1,182.98 in unpaid taxes from him.
what is the percentage of return on 1000.00 if i earn 67,000.00
-$540081, because he's got nothing but taxes
7% of 3,000 for 6 month
From $1 to $50 of qualified earned income that you worked for. Go to www.irs.gov and use the search box for EITC
There are other factors, such as how much you earned, whether someone can claim you as a dependent and how much money was withheld.
Your employer would be the one that could give you the amount of income, fica, state, etc that will be withheld to reduce the 3000 that is earned each week and tell you how much your net take home may be.
You'll have to wait for them to build a bridge 3000 miles long!
$2400 usd duty free in the carribean islands. In the Us closer to $3000. plus taxes