$9500 for a single person under age 65 and $ 19000 for a married person filing jointly.
you will pay an additional 0 9 % medicare tax on the amount that your annual income exceeds $ 200000 for single filers $ 250000 for married filing jointly and $ 125000 married filing separate use this calculator to estimate your self employment taxes are comprised of two parts social security and medicare you will pay 6 2 percent and your employer will pay social security taxes of 6 2 percent on the first $ 118500 of your covered wages you each also pay medicare taxes of 1 45 percent on all your wages no limit if you are self employed your social security tax rate is 12 4 percent and your medicare tax is 2 9 percent on those same amounts of earnings but you are able to deduct the employer portion state taxes you will have to pay state income tax on your winnings in 39 states if you live in one of the 11 states that don t tax sweepstakes prizes you may be spared state income taxes alaska florida nevada south dakota tennessee texas washington and wyoming have no state income taxes  your federal liability would be around $ 8850 on $ 60k of income assuming that you took the standard deduction subtract another $ 400 for the making work pay credit for 2009 that s a net rate of a hair over 14 % you ll pay 7 65 % in fica taxes your net rate in az will be around 3 % or so edit  how much tax you pay on 401 k withdrawals is partly up to you even after you turn 70 you only pay tax on 401 k withdrawals not what stays in the account of course starting at 70 1 2 you must start making required minimum withdrawals each year and pay taxes on them the minimum amount per person will be $ 695 once the tax is fully phased in but it will be less to start the minimum penalty per person will start at $ 95 in 2014 the first year that the law will require individuals to obtain coverage and it will rise to $ 325 the following year starting in 2017 the minimum tax per person will rise each year with inflation and for children 18 and under the minimum per person tax is half of that for adults however the minimum amount per family is capped at triple the per person tax no matter how many individuals are in the taxpayer s household the tax would be more for persons with higher taxable incomes when phased in it will be 2 5 percent of household income that exceeds the income threshold for filing a tax return for 2011 those thresholds were $ 9500 for a single person under age 65 and $ 19000 for a married person filing jointly with a spouse starting in 2017 the minimum tax per person will rise each year with inflation and for children 18 and under the minimum per person tax is half of that for adults however the minimum amount per family is capped at triple the per person tax no matter how many individuals are in the taxpayer s household you will pay an additional 0 9 % medicare tax on the amount that your annual income exceeds $ 200000 for single filers $ 250000 for married filing jointly and $ 125000 married filing separate use this calculator to estimate your self employment taxes are comprised of two parts social security and medicare you will pay 6 2 percent and your employer will pay social security taxes of 6 2 percent on the first $ 118500 of your covered wages you each also pay medicare taxes of 1 45 percent on all your wages no limit if you sold an asset possibly at a profit you ll generally pay less tax on the gain than you would pay on ordinary income such as wages you must keep a capital asset longer than one year to qualify for the special rates a short term capital gain is taxed at the same rates as ordinary income such as wages you are in one of these brackets if your taxable income after deductions but including the capital gains is less than $ 35350 $ 70700 if you file jointly taxpayers whose taxable income is above those limits pay 25 % to 35 % on their highest taxable dollars of ordinary income their capital gains rate is 15 % example say you bought abc stock on march 1 2010 for $ 10000 on may 1 2012 you sold all the stock for $ 20000 after selling expenses you have a $ 10000 capital gain $ 20000 10000 $ 10000 if you are in the 25 % tax bracket you pay $ 1500 in capital gains tax $ 10000 x 15 % $ 1500 this amount is in addition to your tax on your ordinary income the amount of federal income tax on $ 957 depends on many factors if i were to hazard a guess it would be about $ 240 that assumes you are in the 25 percent tax bracket in other words you pay 25 percent of every additional dollar of income on your return if your income after deductions is less than about $ 35000 about $ 70000 if you are married and you file jointly you may be in the 15 percent tax bracket in that case an additional $ 957 will only cost you about $ 144 in income tax
http://www.calcxml.com/calculators/self-employment-tax-calculator?skn=73 http://finance.zacks.com/much-state-federal-tax-owed-sweepstakes-winnings-6171.html https://answers.yahoo.com/question/index?qid=20090927225906AABg7Yx http://finance.zacks.com/much-pay-taxes-401k-70-years-old-6946.html http://www.factcheck.org/2012/06/how-much-is-the-obamacare-tax/ http://www.factcheck.org/2012/06/how-much-is-the-obamacare-tax/ http://www.calcxml.com/calculators/self-employment-tax-calculator http://blog.taxact.com/long-term-capital-gains-tax/ http://www.creditcards.com/credit-card-news/canceled-debt-tax-notice-irs-payment-1294.php
much tax will i pay