Fed = 1040 Tax Return, Line 24. CA = somewhere on your state-specific tax return. FICA would be on your W-2, boxes 4 (SocSec) and 6 (Medicare). Your W-2 might have other deductions for healthcare costs (box 14, which is an expense you can ignore because it will be lumped with other expenses), or your 401k/403b (box 12, which goes under savings rather than taxes). Property taxes might be on your return if you itemize deductions, or on your Form 1098 if you have a mortgage (if your home is paid off, presumably you have records of your direct property tax payments, since there's no escrow being managed by a lender).I'm trying to calculate my annual expenses and was going off the formula of Annual Expense = Gross Income - Annual Savings/Investment - Taxes
I guess all taxes owed. Are there different line items for each? Federal, state, FICA, etc.? I do not own a home.
Statistics: Posted by bonesly — Fri Sep 06, 2024 11:27 pm
