If you are under 18, but have a job, do you start paying taxes? Is their a certain age?
2006-09-02 12:44:31 · 15 answers · asked by surfer101_317 2 in Business & Finance ➔ Taxes ➔ United States
Your parents may claim you as a dependent on their tax return as long as you are under 19 if you are not a full-time student, or under 24 if you are.
Even if you could be claimed as a dependent on someone else's tax return, though, you may still have to file a tax return yourself if your income exceeds certain limits.
Whether or not you end up having to pay at the end of the year depends on a number of factors. However, since your employer will be deducting taxes from each paycheck (assuming you're a W4 employee and not an independent contractor), there's a good chance you might actually end up with a refund.
If you would like more info, see the FAQ website listed below, or you may call the IRS directly at 1-800-829-1040. Have fun, and welcome to the working world!
2006-09-02 13:11:47 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Yes Taxes are taken out of your check automatically. When you work you have to file taxes. Usually your parents be asked if there children worked who are under the age of 14 and then it is on them and not you. The government WILL fine you if you don't file your tax return. And besides if you are under the age of 18 and worked then you'll be getting money back and why wouldn't you want money?
2006-09-06 06:45:35 · answer #2 · answered by Fallon V 4 · 0⤊ 0⤋
The US government doesn't mind how old you are. You can and in fact have to pay taxes. Previously minors under the age of 18 did not have to pay taxes. We can thank Bill Clinton for that one. Thanks to Bill a one year old may have taxes to pay.
2006-09-03 07:57:48 · answer #3 · answered by smelloyello 3 · 0⤊ 0⤋
20
2006-09-02 12:52:32 · answer #4 · answered by Anonymous · 0⤊ 0⤋
If you were born and your grandparents gave you say $100,000 in investments right after your birth and those investments earned enough dividends and interest the first year of your life, you would have to pay taxes on them. However, if you are under 14 that income can be included on your parents' return but does not have to be included.
2006-09-02 13:14:15 · answer #5 · answered by Anonymous · 1⤊ 0⤋
You pay taxes every time you buy something.
You pay taxes with your first paycheck.
Depending on your income you pay taxes to the IRS in April.
If you own property or a home you pay taxes.
Taxes aren't based on age.
2006-09-02 12:50:43 · answer #6 · answered by Bluealt 7 · 0⤊ 0⤋
As it was previously said age doesn't matter, and for that matter it doesn't matter if you are alive. You can get taxed and audited after death. if you are making money you are required to see if you meet the threshold for paying taxes. In many cases you don't have to pay, if you have too little income or many deductions.
If you don't have enough income generally you don't have to file unless you overpaid through withholding or estimated payments. If you deductions/credits exceed your income you still have to file to let the IRS know you don't owe them anything.
2006-09-02 21:15:14 · answer #7 · answered by ken 3 · 0⤊ 0⤋
Its how much you make not your age. You could be a toddler and someone left you an inheritance,,you would owe taxes. Only if its over a certain amount
2006-09-03 12:25:28 · answer #8 · answered by linluv2001 2 · 0⤊ 0⤋
well once you start paying taxes i.e. a job that takes out taxes yes you have to file.....but a good thing is if don't make a lot you should get most of it back...
2006-09-02 12:48:26 · answer #9 · answered by nas88car300 7 · 0⤊ 0⤋
It's not based on your age. It's based on how much money you make in a year. Being under 18 doesn't really factor into it.
2006-09-02 12:47:37 · answer #10 · answered by trance_man_99 2 · 0⤊ 0⤋