(Sorry for the repost, I had incorrect info.)
Can I claim exempt to federal tax withholding? I make about $180 a month, am living off of previous savings, and my parents are funding my education. I claimed it in 2006 because I was still dependent on them for most of the year. I moved into an apt in August. In 2005, I claimed "single" and got all of my withholding back.
I don't really understand what tax liability means if I am earning money but not much.
2007-01-30 14:18:57 · 2 answers · asked by retzy 4 in Business & Finance ➔ Taxes ➔ United States
Tax Liability is what the government expect you to pay out of what you earn during the year. Your tax liability can be decrease by credit. If you only make 180 a month which is 2160 a year and no other income anything that you pay in you will get back plus if you are 25 or older you can get earned income credit. Sorry if i gave too much information.
2007-01-30 14:33:27 · answer #1 · answered by maria169 2 · 0⤊ 0⤋
seems parents pay more
2007-01-30 22:27:18 · answer #2 · answered by Anonymous · 1⤊ 0⤋