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Here's an overview of your tax situation: Your filing status is Single. This determines how much you can get for certain credits and deductions, and which tax rates apply.
Your total income for the year was $511,209, including:
Wages, $424,633
Taxable interest income, $4,325
Ordinary dividends, $6,689
Capital gains, $78,717
Business income (loss), -$3,155
You took the Standard Deduction of $14,600. After applying your deductions, your taxable income was $496,609.
Based on this amount, your total tax before any credits was $133,013. This includes additional medicare tax of $2,203 and net investment income tax of $3,410. You did not receive any tax credits.
You've already paid $94,391 toward your taxes this year, including:
W-2 withholdings, $92,188
Other withholdings, $2,203
After applying your payments, your balance due is $38,622.
| Your Tax Breakdown | 2023 | 2024 | |
|---|---|---|---|
| Total Income | $278,916 | $511,209 | |
| Deductions | - $13,850 | - $14,600 | |
| Taxable Income | $264,977 | $496,609 | |
| Blended Tax Rate | x 23.7% | x 26.8% | |
| Tax LiabilityThis is how much you were supposed to pay in taxes. | $62,925 | $133,013 |
| Your Tax Payments and Credits | 2023 | 2024 |
|---|---|---|
| Taxes Paid | $47,881 | $94,391 |
| Credits | + $0 | + $0 |
| Total Taxes Paid | $47,881 | $94,391 |
| Refund (or Tax Due)This is calculated by taking your total taxes paid andsubtracting your tax liability. | $-16,723 | $-38,622 |
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