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By admin, April 30, 2010 3:32 pm

TAX QUESTION,, Im self employed in PA,, Did i pay too much in taxes or no? I am a self contractor,Please help?

Hi,,
Im self employed in PA. as a self contractor. I just got all of my taxes done, and i am thinking the final number doesnt sound right. I asked numerous people what they though, and i got different answers but alot say a paid way too much. This is my first year filing under self-employment
Ok,, I made a total of est.,, $36,000 throughout the year. I had numerous write-offs,, thse numbers are close estimates –
**DUMPSTERS, ETC., and material needed for the job- about $6,500, which i believe are 100% write offs, **AUTO-GAS-INSURANCE – about $1,600 **TOOLS – about $1,900 ***INSURANCE for WORK- $500 **ENTERTAINING- about $300 , I believe there were another $1000 in write -offs in which the accountant added since i forgot.
Anyway,, I ended up paying the government somewhere around $5,000 , i thought it was only going to be no more than $3,000. Did i or my accountant screw up somewhere? I would appriciate any kind of help,, Thanks!!

First of all, the numbers sound right for just the federal. I’m guessing we’re not counting Pennsylvania state tax, local income tax, or mercantile tax (if your town has one).

And yes, friends and newspapers are both bad sources of tax advice.

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