Federal Income Tax
How much federal income tax does a person making $9,950 pay in 2022?
10% of that figure, or $995.
How much does an unmarried person making $9,325 pay in CA state income tax?
1% of $9,325, or $93.25
How much does an unmarried person making $10,000 pay in federal income tax?
$995 + $5.88, or $1,000.58
How much does an unmarried person making $10,000 pay in CA state income tax?
$93.25 + $13.50, or $106.75
If someone makes $750 off of an essay contest, what form must be filled out?
1099-MISC
If someone makes $500 off of renting out a house, what tax form should be filled out?
Trick question—no form has to be filled out for this amount made