How can I calculate how much tax I owe? 4 Answers as of December 03, 2010

I qualify for and claimed exempt status on my taxes because I was exempt last year. However, I am working full-time now, and even though I have not worked full-time all of this year, I have worked enough to owe a considerable amount. How can I calculate how much tax I owe? Does the exempt status make my taxes confusing enough that I should hire someone to file for me?

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David Hoines Law
David Hoines Law | David Hoines
See a tax preparation professional tax rates vary depending upon your status they are published on IRS website.
Answer Applies to: Florida
Replied: 12/3/2010
Mankus & Marchan, LTD
Mankus & Marchan, LTD | Tony Mankus
It is not clear what you mean by "exempt status," but I would definitely seek assistance from a good accountant or CPA to help you prepare the 1040 tax return. The amount due will be computed after the tax return is prepared.
Answer Applies to: Illinois
Replied: 12/2/2010
LT Pepper Law
LT Pepper Law | Luke T. Pepper
I would go to a tax preparer to figure out how much you owe. If you worked and had the money deducted by your employer, you might owe less than you think or due a rebate.
Answer Applies to: Pennsylvania
Replied: 12/2/2010
Meyer & Yee, LLP
Meyer & Yee, LLP | Kent W. Meyer
If you have not filed before it might be worthwhile to sit down and discuss how best to determine your liability.
Answer Applies to: California
Replied: 12/1/2010
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