How much taxes will i owe? PLEASE HELP?
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Hi, ive been a nanny for a little over a year now. This will be my first year doing nanny taxes. I get paid 508.00 $ every week. I am trying to find out how much i will owe. Taxes do not get taken out of my check. I know i will get a W2 and i believe she pays the medicaid and something else i know she does everything by the book. What im trying to figure out is how much i will end up owing come income tax time. And i will be doing my owe taxes are there anythings that i can include or claim in my taxes to help me out? Please let me know guys! Thanks Lake County Illinois.
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Answer:
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Other answers
Assuming 52 weeks paid, you would make $26, 416. Assuming Single and standard deduction with no kids, you would likely owe the IRS approx. $2100. You will also likely owe Ill. state income taxes on that amount too.
David S
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