Posts Tagged ‘personal deductions’
Are social security and medicare calculated after personal deductions etc, or only on gross income?
Posted by admin in US Tax Questions on October 11th, 2010
Trying to figure out my estimated federal taxes but a program I am using calculates my SS and Medicare higher than I predicted. Should I not have applied my personal deductions before figuring out these numbers?
What kinds of personal tax deductions can I use to my advantage (legally)?
Posted by admin in US Tax Questions on April 23rd, 2010
Here’s a breakdown of my life and expenses:
1. I run a freelance business repairing computers and Installing audio systems (only made 0… dead serious)
2. Live with my parents in california
3. work at t-mobile selling phones (hourly+commission)
4. I do not have kids
5. I am a student
I know my personal deductions are limited aside from business expenses, but I would like to know what options I do have. Any help will be greatly appreciated.