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    swtnsmrt's Avatar
    swtnsmrt Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Feb 4, 2006, 12:56 PM
    CPT+fed and state taxes
    Hi,
    I have been on F1-CPT in the state of CO while studying for 8 months in the year 2005. My employer did not withhold any taxes. So, I assume that I have to pay Federal and state taxes this year. My income for 2005 has been $11,600. I assume I have to pay around $550 in Federal and $165 in state taxes. Are there any deductions I can make to reduce my federal or state taxes?
    I'd really appreciate a reply!

    Thank you for helping out so many international students with your advice. Its really nice of you, as most of us are generally lost when it comes to taxes.

    Thanks again,
    Swtnsmrt
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Feb 4, 2006, 11:25 PM
    Swtnsmrt:

    Nationality, please? It does make a difference in determining whether you get the standard deduction ($5,000) or any treaty exemptions.
    swtnsmrt's Avatar
    swtnsmrt Posts: 2, Reputation: 1
    New Member
    		  
    #3

    Feb 5, 2006, 01:09 AM
    Hi Expert,
    I'm Indian actually. So, what I've done is deducted $8200 (since I'm filing single) from my total income ($11,600) and calculated the taxes on the remaining. Any other deductions possible before calculating fed and state taxes from the remaining?

    Thanks!!
    Soni
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Feb 5, 2006, 06:04 PM
    Soni:

    Your federal taxes would be about $111. Suggest you re-check the state taxes.
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