CU tax

Been doing this for about a month made about 1,500$ so far...... I am using CU and I just always get a cash advance on the checks they send....

How do I go about figuring how much I'm gonna end up owing around tax time.....

I have pretty much spent everything i've earned so far (bills and some luxury items)

What does one suggest I do? certain fraction of consecutive checks I should put aside for taxes? I just dont want tax time to come around and owe way more than I have honestly I wish CU just took tax outta my check ... and this will be my first year filing taxes by myself (father did it for me last year only had a job for 5 days though lol)

Not sure what percentage will be owed in tax, but you can always figure it out in January then wait till april to file. 4 months to cover what you owe if you don't have that much immediately available.

I admit I have been kinda splurging (aside from bills I owe) should I continue then try to make what I owe back around january?


Open to suggestions on lowering taxes when time rolls around... single living at home still... 22 years old....

Depends on your yearly total but, I'd set aside according to this basically (I assume you live in the U.S.)...

15k/yr = 15%
30k/yr = 18%
50k/yr = 20%
75k/yr = 25%
100k+/yr = 30-35%

Those aren't exact, but you get the picture. Try this, just grabbed it off Google after searching "2009 U.S. tax bracket percentages."

http://www.moneychimp.com/features/tax_brackets.htm

put at least 35% aside. if you start making a lot of money look into getting an accountant.

Dude its smart of you to start worrying about Taxes from the beginning itself .Just make sure you keep 15%-18% of the money separately for the Taxes.