<prompt> Human: I knew Id be filing a 1099 at the start of my job in March 2016. I put back 120 a week for taxes into my savings account plus whatever extra I could save. Total earnings were 15,600 for the year plus 1,000 on a W2-G for a scratch off. I put back a little over 5,000 total in my savings account. My mom has been an accountant for 25 years and does my taxes. She filed an extension and let me know today that with one exemption for myself I still owe 2760 FederalSocial Sec and 451 GA state.This seems like way too much to me especially with the exemption of 4050. This will cut my savings in half and I was not expecting that. Any help or advice would be greatly appreciated.  <response>: My mom has been an accountant for 25 years and does my taxes.Her work checks out. Your income tax is a little over 500 and your Soc Sec and Medicare taxes add up to a little over 2200.---Other income: 1000SE profit: 15600SE taxes: 15600 0.9235 0.153 2204SE deduction: 1102Taxable income: 1000 15600 1102 6300 4050 5148Income tax: about 513Total tax: 513 2204 2717Your mothers calculation perhaps used more exact values to arrive at 2760. It sounds plausible. She may have included the underpayment penalty that can arise if your tax is over 1000 and you make zero payments of estimated tax during the year. That could account for the other 50 or so. Depends on your tax situation previous year.---Edit: The personal exemption of 4050 reduces your adjusted gross income to something just over 5100, but this only has an affect on your income tax. Your SE taxes are computed based on your SE profit, and that does not get reduced by your 4050 exemption. 