I have a short black plastic pipe with orange 4inch cap over top sticking out of my basement floor, how can I make this level with my floor to put carpet over top, can anyone help me with this asap. Thanks

Cutting pipe not a problem. The question is what's the pipe there for.
Show us a picture. Sounds like the rough in for a toilet.

Yep, does sound like a toilet rough-in. Can't just carpet over it. If this is a toilet rough in cutting I no problem but you need to pack the pipe with an old towel and then seal it with a thin 2" coat of patching cement

Hi guys...

If you are sure you won't be using the pipe then I would drill out the concrete around the pipe and I would cut it down to a couple inches below the floor and then I would prime/cement in a schedule 40 ABS cap. This makes a permanent seal that won't ever leak should your main sewer drain line back up and put pressure on the drainage system.

You can cut the pipe down using an inside pipe cutter tool (or a dremel tool with proper cutter) and you can chip out the concrete by renting a rotary hammer with concrete bit. The cap is heavy enough that you could leave it flush with the floor and just fill the edges with concrete, but for best job cut the pipe so you can install cap and skim a couple inches of concrete to nice finish.

That's how I would do it if I was never going to use the pipe again, although I would make a note of exactly where (measure off walls) this pipe is in case you or the next homeowner wants to install a toilet someday. Put the note next to the water heater as TOILET NOTE (or something like that).

Good luck!

Mark

In addition to above advices: In my area, an acceptable method of capping of pipe is to push in old newspaper and fill pipe with concrete. But personally, I would use plug or cap.