Pls help:
I am single, eccentric (noone can insist me as a dependent), and I have no children.
I live in NYC
I have $16,000 and compensate off $2500 loan this year.
I wish to know will i get any taxation return? Federal & State? we estimate how much?
——————————————-
Federal income taxation funded : $1449.60
SS taxation withheld: $990.76
Medicare taxation withheld: $231.71
Other: UI/HC/WF $67.92
DI $79.90
FLI $14.38
State income tax: 245.60
thanks in allege for your help.
Also, my trainer do not offers me any healing package, so how come there’s a medicare tax?
first of all, really big appreciate for your assistance 
can you greatfully insist small bit some-more on the $400 compensate credit?
I’ve already graduated from my college and yes it’s tyro loan.
I usually borrows $2500 (total, is it authorised for the $400?) of loan. and I compensate off $2500 this year w/$75 loan interest.
also, I’m formulation to do the taxation lapse by myself. Can any1 suggest me any great & VERY EASY TO USE software?
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Go to turbotax.com and fill it out for free. It’ll tell you. If you don’t like the result, just don’t submit it.
The Medicare tax is for medical care for seniors.
Your taxable income is 16000 – 9350 (exemption + standard deduction) = 6650. Tax on that is 668. Making work pay credit is 400, leaving tax of 268. Your refund is 1450-268 = 1182. The refund will be a little more if the loan was a student loan and there was some interest paid on it.
Yes you’ll get around $1185 federal refund, maybe a little more if that loan you’re paying off is a student loan. But only the part that’s interest will be deductible, not the whole amount paid off.
Medicare is a federal program for people over 65 or disabled – the medicare deduction is to qualify you for that, and is mandatory. It has nothing to do with any current medical coverage.
FEDERAL
The first 9350 is tax-free, so your taxable income is 6650.
The tax on that is 668 (10%).
So your federal refund (not return, a tax return is what you file) will be 1450 (tax withheld) – 668 (tax due) + 400 (making work pay credit) = $1,182
NY STATE
After 7500 std deduction, your taxable income is 8500.
NYS tax = 344
NYC tax = 248
sales/use tax = 17
total tax = 609
NYS household credit = 45
NYC school tax credit = 63
net tax = 609-45-63 = 501
Your withholdings:
NYS = 246
NYC none (you should have them withhold NYC taxes or you will owe every year)
Net New York Return = 246 – 501 = -255
YOU OWE NEW YORK STATE $255