The Small Business Tax Help Blog

Posts Tagged ‘2009 estimated tax rules’

Question: How much Taxes do I owe?? My total 2009 income was $97,000 I paid $20,000 in taxes -?

I have 3 kids all below 17 and a non working wife. Paid $2,500 in house taxes, contributed only $2,000 to my 401K. I have a bad debt of $6,000 for a business that went dead this year and I am not quite sure how to write that off yet! Will I be in the 15% bracket or the 25%?? What is my estimated return and what are the rules for the bad debt??
Additional Details – the state is Missouri
FEDERAL W/H $ 10,040.88
FEDERAL MED/EE $ 1,157.33
FEDERAL OASDI/EE $ 4,948.59
Missouri W/H $ 3,601.00
The business went dead in 2009.
I only claimed 1 exemption all year round.

Answer: There is a tax calculator on turbo tax.com and they got my return dead on. Try it out, good luck!!

To Fix Mortgages, Rein In Borrowers

One way to untie the knotted American mortgage market might be to stiffen the rules on home loans.

4-15-2009 Kingsport, TN Tea Party Tax Protest (PART 1)