<p>Hello,
I am single, head of household. I am confused on what tax table I should use to estimate my tax for the fafsa. (weekly, bi weekly yearly, so many tables!) Part of my income comes from a part time job which I will get a W-2, the rest will come from contract labor from 1099’s. Any advice would be greatly appreciated.</p>
<p>Not familiar with those tables. Are they from the FAFSA income calculator? I’ve never used that. Your last pay stub of 2012 for the W-2 jobs would be the best source for them. For the 1099 jobs, do the best you can. Did you keep track of contract hours and know the rate? How did they compare to 2011, similiar, higher, lower? It’s an estimate now that you want to be as accurate as possible but doesn’t have to be exact. You’ll update later after taxes are done with the actual numbers.</p>
<p>I guess what I’m trying to figure out is which single head of household tax table to use from the IRS when you have multiple income sources, from w-2 and 1099. There are so many, weekly bi weekly, etc. How do you know which one to use to determine the estimated tax for the fafsa?
thanks,
jack</p>
<p>Those are not the right tables (those are income tax withholding tables for employers to use).</p>
<p>I just plug in the estimates of income, adjustments, deductions into my tax program and look at the 1040 form to see my AGI and the tax I will owe. You can do the same with a paper 1040 and then look up your tax owed in the correct tax table which would be a yearly amount. Yes, with 1099 income the estimates are harder to come up with but once you’ve got them, seeing how much tax you will pay isn’t hard. In that case the correct tax table should have yearly income down the side and filing statuses across the top.</p>