is my tax code correct and am i paying the correct amount?
338953
P60 is not a tax code, it is the letter you get in April each year to let you know how much you've earned in the previous tax year.\nYour tax code is 3 digits and a letter.
1000471
Looking at your answers so far, mine might be a bit generous, but I got the accountant who sits by me to work it out - so here goes:\n\n£5,035 is not taxed (this has recently gone up)\n£2,150 is taxed at 10% (£215)\n£11,815 is then taxed at 22% (£2,599)\n\nThat means that £2,814 is deducted each year, leaving you with £ 16,186 which is £1,349 per calendar month take home pay.
164170
I say the consumer's tax is $.50 because they are paying $.50 more than usual.  By the same token the supplier's tax is $1.50, they are receiving that much less than usual.  Which makes the total tax $2.00, which is OUTRAGEOUS :)
402000
Since you're getting the money w/o tax withholding.  You should also look into paying estimated taxes.  Otherwise, if you owe taxes when filing tax return, you might get charged with interest for the tax payment due.
1107173
Let's make sure you have your forms right.\nThe 1040-ES forms are for estimated payments.  If your income changes (up or down) you simply pay whatever you calculate the estimate to be.  Any worksheet that is done is for your own personal files, the IRS doesn't check them.  What is important is paying in enough to cover your tax.  The IRS WILL charge you underpayment interest if you are short.\n\nGood luck.
288883
AS PER THE INCOME TAX ACT 40% YOU HAVE TO PAY..\n\n\nTHAT MEANS $400,000
570232
You're probably getting less than you thought!  There was a mistake and the IRS corrected it for you, now your refund is going to be different than what you filed.
391907
Turbo tax program breaks everything down for you and they have a set list of values already set in the program... Good Luck
294888
You should check with a good accountant (not one of the walk up places like H&R). I am pretty sure that Capital Gains is to be paid only on amounts over $250,000.
488346
In 2006, the single person standard deduction is $5150, so he will not pay "income tax" on income up to that point.  However, he will have to pay "self employment" tax on that income as a self employed individual if it's more than $400. (15.3% of self employment income)  This is for FICA and Medicare.  He will likely get a 1099 from his employer for the total amount they pay him.  He can however, deduct any business expenses he had pertaining to this job to lower this figure on Schedule C.  So I would keep track of any expenses he had to pay out of pocket for this job, like mileage, any special tools or equipment purchased, etc.  Talk to a tax accountant and explain his situation for better advice.
502754
First, it depends on which state you live in.\n\nThere are a variety of taxes that phone (and other utilities) like to pass down, especially excise taxes.  I would plan to pay anywhere from 10% to 15% in taxes.
236362
Have you checked to see how much tax you'll actually have to pay? It may not be as much as you think.
251653
What is the question?\n\nYou should speak to an accountant so that you won't get penalized by the IRS.
39337
10% penality, plus the tax.  So $2,500 right off the top, plus if you are in the typical 28% tax bracket, you'll have to pay another 7,000 in taxes.
151492
Do your own taxes online and e-file save the 300. and get it back just as quick!  \nIf you were not refering to taxes it sounds like a scam!!!!
696746
Does your state have an income tax?  That also qualifies as a deduction.  Do you take a medical or a child care pre-tax allocation?  That can also reduce your AGI another $10k.  Do you have interest income, dividends - sell or buy stock?  Did you contribute to an IRA?\n\nIf NONE OF THE ABOVE - just $100k - $25k, then tax bill is about $9500 - divide by # of paychecks.
84191
I received the same reference # and I just called. I was told that as of yet no change has been made to my income tax and if there is a problem or incorrect entry they will try to correct it and process it on their end. If not they will mail me some information if I need some additional document etc. to be mailed. I enclosed at 8901 form with my documents (not sure if it has anything to do with that or not). Keep you posted :)