taxable income?
i made 30000 in the year of 2007. After adjusted income and deductions. My taxable income is around 3400. Is this normal? Is that saying i only made 3400 dollars last year? is it normal to only have that much taxable income though? That puts me in like the 2.9% tax rate. Will this throw up a red flag? I havent cheated in anyway. The big part of my deduction comes from my work truck. My standard deductions is like 9000 on it alone. My total deductions is 13000. No the standard deduction im talking about is the standard deduction for mileage on my truck
Public Comments
- Yes.
- Your are being taxed on $3400 after your deductions. Then you are eligible for credits there after.
- It's normal. But check on that standard deduction number - there isn't any filing status that has a $9000 standard deduction.
