2024 Tax Year (Filing in 2025)
You are 25yr old and single with no kids/dependents.
You live in Florida.
Your 1099 job pays $47,809.30/yr.
You have no other sources of incomes.
You are taking the standard deduction.
You have $1,887.05 in non-taxable income (medical premiums & FSA/HSA).
You put $3.123.13 into a Traditional Solo 401k.
Your credits come out to $1,539.66.
Calculate the total (Federal Income Taxes and FICA) owed for 2024.
Not your Net Pay