I am 16 and I just got a job, do I have to pay taxes?

Question

(Im working at a very small grocery store, its independent) can some one give me some advice too?

how do I file taxes?

okay... 1. SirWilliam, Im a girl not a "lad"

and 2. dave... thats disgusting.

Answer 1

Yes you need to pay taxes.
When you first start working, your employer will ask you to fill out several forms. One of these is a W-4 which determines your FICA withholding. Make sure that you elect the standard amount since you won't be earning enough to owe at the end of the year.

After the end of the calendar year, your employer will provide you with a Form W-2. This form states how much you earned and how much was withheld for taxes.

To file, simply log onto www.irs.gov and look for the "Free e-File" option. You can then elect an online service to use to file. The service will provide step by step instructions for completing each field on the Form 1040-EZ.

Answer 2

Don't listen to these amateur accountants who tell you that you have to pay taxes. It's an indie store so I take it you're getting paid under the table - CASH. Second, and for the same reason, I take it you are making s**t for wages. Third, your bosses should have given you the tax forms to fill out if they were going to withhold. If not, it's up to you if you're going to report it to the gov. ESTIMATE how much you make each week and how much you'll make in the 2007 tax year. If you make less than your states minimum to file taxes, you won't have to file. For my state if you make less than $10,000 you don't have to file the state taxes and you don't owe. The Federal government has its own minimum requirements that you have to look up. Don't worry about the refund, either, because, overall, you'll get the most money not paying any taxes. You see, if you let the government have your taxes while you are working by sending them estimated tax payments every IRS fiscal quarter, they hold your money that you can be using to smoke weed, buy porn, or maintain the car you need to get women. If you're a woman, then to buy those cute outfits guys will like, buy make up, or shop for shoes. And think of how unpopular you'll be then! And what are you 16? If there's ever a problem you can say your boss tried to touch you. They'll have to hire a lawyer for you and pay your back taxes.

Answer 3

Of course you have to pay taxes. You can claim exempt on your w2, but if you end up making over a certain amount the IRS will collect those tax funds from you. The idea I feel is the best is to claim 1 (yourself) on your w2, and then at the end of the year when you file your taxes, you will most likely receive a tax return if you have over paid.

Answer 4

Yes you have to pay taxes and file a tax return just like everyone else.

Answer 5

depends how much u make maybe about 7500 a year no tax, check this out but u need to file to get money witheld back there are rules if u are a dependent on some ones return

Answer 6

No, you don't because the law states people from the ages 18 and up have to pay taxes.

Answer 7

Yes, you will have to pay taxes. You may be eligible to recieve it all back at the end of the tax year but the gov't always collects on the front end!

Answer 8

They will take taxes out automatically. I would file taxes if I were you, since you wont make much money it will all be refunded to you.

Answer 9

Yes you have to pay taxes

Answer 10

all "legal"(over the counter) jobs require you to pay taxes