Taxes for working 2 jobs?

Question

I'm thinking of taking a second job for the summer. If I do this then which tax forms do I need to fill out or how would they differ from filling out a normal W4 for one job? And, most importantly, would I have to update the W4 I initially filled out for my first job? My manager there is nuts and takes it very personally (read: badly) when someone has 2 jobs, so would she even have to know?

Any other technical tax/gov't info on working 2 jobs would be much appreciated!

Answer 1

When you file your taxes, your income from both jobs will be added together. Taxes on your second job will basically start at whatever rate your first job leaves off, so will be a higher percent than on your first job where you subtract your exemption and standard deduction before you pay any taxes. There's no need to change your W-4 at your first job, but on your second job you probably want to have extra taxes taken out, maybe about 15%. You'll fill out a W-4 at your second job also. There aren't special forms for working a second job.

Answer 2

You would have to fill out a second W-4 for the new job. Since your primary employer need not know about the 2nd job, claim the maximum withholding, or at a minimum 1, to avoid a tax hit at the end of the year.