if you earn money, you should file a W2 form, maybe 1040 and state tax form as well...depending on how much you make, you might get a refund or might have to pay.
2006-06-23 06:42:21
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answer #1
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answered by Richard H 7
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You should be exempt from the federal and most likely the state income taxes. When you fill out your W-4, under your withholdings there should be an option to write that you're "exempt" if you believe you'll qualify for the exemption.
I'd suggest you do that rather than let them take the taxes out and then hope you get it all back at the end of the year. Doing that means you have to worry about the return, and you're giving an interest-free loan to the government, which is dumb.
But if you're "self-employed," which to me would mean that you do odd jobs or something like cutting grass for money, then there's no need or reason for you to even file the paperwork. You're exempt, you're not making enough not to be exempt, and nobody is keeping an eye out for 16 year-olds making a few dollars on the side. So keep the money, don't even worry about filing until you have a "real" job where they're withholding the money for you.
2006-06-23 13:46:13
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answer #2
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answered by DemonOly 2
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I don't know the exact amount but I believe that it's if you make less than $1400 a year and have never filed before, your don't have to file taxes. They still will take out taxes in the paycheck, but you don't have to worry about filing. The only thing is, if you don't file, you can't get any kind of refund if you were intitled to one.
I would go to the IRS website and look around.
2006-06-23 13:43:10
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answer #3
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answered by ffagirl15 2
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Yes, you must pay taxes whatever your age. However, less than $1,000 a years is probably below the earned income limit that would require a return. Special rules apply to children claimed as dependants on their parents' tax returns you you should check with your family tax advisor to be sure what your income limits are.
2006-06-23 13:45:20
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answer #4
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answered by Bostonian In MO 7
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When I was under 18 you had to at least file taxes if you made $600 a year. Just grab a 1040EZ form of the IRS website and fill it out. It will tell you if you owe.
2006-06-23 13:42:29
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answer #5
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answered by mattwbell 2
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Yes you do have to have the employer withhold taxes, but when you file your tax return you will most likely get it all back
2006-06-23 13:41:24
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answer #6
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answered by Anonymous
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yes......but when you r 18 taxes are more. or in simple words the taxes get more expencive when u turn 18.
2006-06-23 13:42:10
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answer #7
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answered by Anonymous
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not if you are a soldier deployed to Iraq.
2006-06-23 13:41:39
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answer #8
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answered by my_huckelberry 4
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no you do not because you will be considerd excempt on your taxes
2006-06-23 13:41:46
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answer #9
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answered by nowrule2000 1
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i would hope so if you use the sewers, roads, etc.
2006-06-23 13:42:39
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answer #10
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answered by soul patrol baby 4
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