$24,000 income, $1994 withheld, and I OWE money, does that seem right?

[notfred]

I already paid $2000 this year... Doesn't that seem like enough? Damn, the federal government wants another $90.

 

[NutBucket]

Are you claiming exemptions?

 

[Rent]

Jesus, how do you live in Cali with that income?

 

[element]

You're not rich enough for the tax cut.

 

[Joker81]

thats like only 11% after the standard 7000 deduction.

 

[pulse8]

Originally posted by: Rent
Jesus, how do you live in Cali with that income?

I live in Hollywood with not much more than that.

Not well, but it's possible. 😛

 

[notfred]

Originally posted by: Rent
Jesus, how do you live in Cali with that income?

Eh, I'm a college student, it's not that bad for a college student.

 

[T2T III]

Originally posted by: Rent
Jesus, how do you live in Cali with that income?

Maybe, $24K is just the "reported" amount. 😉

 

[bigrash]

Originally posted by: notfred
I already paid $2000 this year... Doesn't that seem like enough? Damn, the federal government wants another $90.

That sounds about right. That's about the percentage I had to pay when I was 21 and making about the same amount. If you're taking classes also, look into claiming that too, cause you can get up to $2000 credit for that

 

[puffpio]

if you're a college student I think you can deduct tuition and living expenses and stuff..which may be more than the standard deduction

 

[Feldenak]

Originally posted by: pio!pio!
if you're a college student I think you can deduct tuition and living expenses and stuff..which may be more than the standard deduction

You can claim tuition and other qualified expenses in addtion to the standard deduction.

 

[cerebusPu]

you can deduct tuition only if you pay for the tuition yourself. not if your parents pay for them. also, qualified expenses include books, supplies, and so forth...not food and beer costs.