how do i take taxes out of my weekly paycheck?

Question

my employer doesnt take taxes out of my check i have to take them out myself but dont know how to

Answer 1

If you are an employee, your employer is obligated to take taxes out of your check, according to the W-4 (federal) and state withholding information you provided. If you are an independent contractor, no taxes are taken from your check and you will have to pay quarterly estimated taxes. You need to clarify what is the status of your employment. If you are an independent contractor, you may need to find a tax adviser who can show you how to calculate and pay your estimated taxes.

If you find out that you need to pay estimated taxes, please do not wait until the end of the year to make your tax payment. Estimated taxes should be paid each quarter on the money you made that quarter. If you do not pay as you go, you may end a big penalty at the end of the year.

Answer 2

If the person making payments to you is not withholding any taxes they are treating you as a self-employed individual (an independent contractor.) Self-employed people pay their tax on a quarterly basis using a payment voucher called a 1040-ES. You can access blank forms on line at the IRS website.
The next vouchers are due September 15, 2006 and January 15, 2007. The amounts of the vouchers almost require preparing a proforma tax return for 2006 but there are some safe harbor rules that will help you determine the minimum amounts due with those vouchers. Most accountants or tax preparers can help you with these rules. They take about 15 minutes to explain and don't lend themselves to a quick answer or percentage.
It sounds like you believe you are an employee and your "employer" is treating you like a self-employed person. You will need to resolve this with your "employer."

Answer 3

Your employer may be in vilation of the law. There are a few employee classification determined and dictated by the IRS, and your employer cannot arbitrarily decide you are one or another. Instead of trying to figure out your taxes, ask the IRS for a determination. If you are classified as an employee, as opposed to an independent contractor, he is REQUIRED to withhold taxes. It's not an option.

I had a similar situation with an employer and I did not withhold my own taxes. I received a tax bill a few years later for over $3,000. Once I gave them the facts, they went after my employer after determining I was an employee and he was taxed and fined. I still had to pay some, but it was only about $200. Before anything ahppens, contact the IRS and tell them your situation. You can be anonymous, as they often do random audits and will not disclose that someone tipped them off.

Answer 4

You need to get a W-4 from your employer and fill it out, then turn it in. If your employer doesn't do it and won't give you a W-4 then you should just set up a savings account and deposit about 30% of each paycheck so when tax time comes, you have the cash.

Answer 5

What you really are doing is setting money aside for your end of the year taxes. There are formulas for this, but taking about 20-25% of your pay per week should be plenty. Just set it in a separate account or something like that. At the end of the year, I'm assuming you will recieve a 1099 form in the mail from your employer. Then all the money you owe, you should have. Good luck

Answer 6

Employers are required to withhold taxes and submit those taxes withheld, plus the employer matching on FICA, to the IRS. If they are not they are in violation and should be reportd. The IRS may pay a reward.

Otherwise, your employer may be trying to treat you as an independent contractor - in which case you would be liable for your own withholding plus the employer matching portion of FICA. Your personal tax liability will be higher as an independent contractor than as an employee and you should be paid extra to compensate for the extra taxes you must pay.

Either way, IRS requires that someone pay both the personal withholding and the employer match on FICA.

Answer 7

are you an independent contractor? if so, they don't take taxes out so you'll have to take some out and save it for tax time. my current job had the same thing but i demanded to be put on payroll for tax reductions. hope this helps.

Answer 8

I WOULD SAVE ABOUT 40% OF YOUR CHECK IN AN ACCOUNT AND JUST PAY IT AT THE END OF THE YEAR BY FILLING OUT A 1040EZ. THIS WAY YOU'RE BETTER OFF SAFE THAN SORRY AND GO SHOPPING WITH THE REST.

Answer 9

Go to the website to figure them, but it's usually about 26% of your check.

Answer 10

Ask the person in Accts Payable... They should be able to set u up...!