Yeah, okay, im a teenager with a summer job and i havent taken consumer education and im immature blah blah blah and i dont know whether i need to pay taxes or not. Im working in a store for this woman who runs her own business. She contacts other companies and orders personalized stationary, towels, etc. I wasn't really hired i guess...all she knows about me is my name. Everytime i work she writes out a check from her store's account and gives it to me. My friends who have jobs in retail, as lifeguards, hostesses etc. all have to pay taxes, but i dunno if i need to. probly, huh?
2007-06-18 18:32:27 · 6 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ Other - Taxes
Sounds like she's paying you "under the table", which is illegal for her to do, if she's not deducting taxes. At the end of the year, she might give you a form 1099 and report it to the IRS, or might not. Whether she does or not, if you make over $400 for the year you are required to file a tax return and pay taxes on it - if you don't, you're also doing something illegal and can be in serious trouble if and when you get caught.
Even if you don't make enough to owe any income tax, you'll owe self-employment tax of 15.3%.
2007-06-19 02:59:31 · answer #1 · answered by Judy 7 · 1⤊ 0⤋
Has company no longer asked you to end a form P46? in case you sign that, and tick the suitable packing containers, company could desire to placed you on code 647L, on a cumulative foundation. He can then refund any tax overpaid with your wages. that's what tax place of work might assume to ensue. touch them if company does not seem to know what he's doing, and ask for the magnificent code huge form to be issued to him on sort P6. All uk electorate get a tax-unfastened allowance of £6475 formerly paying tax, and you basically pay NIC if wages attain £a hundred and ten a week. The tax 300 and sixty 5 days is going from 6th April to 5th April, so which you have quite a great form of backlog of unused tax allowance. i've got self belief company isn't utilising emergency tax (code 647L, on a week or month a million foundation), yet person-friendly cost tax, a promptly 20% (a million/5) deduction.
2016-11-06 21:43:43 · answer #2 · answered by ? 4 · 0⤊ 0⤋
All earned income is subject to taxation. When she pays you she is required to give you a pay slip or check stub that lists your gross pay and all taxes withheld. If your income is low enough you may well not have any income tax liability but all wages are subject to FICA (SS & Medicare) taxes.
If she's not withholding taxes from your pay, she's breaking the law. On top of that, she's setting you up for a serious tax bill at the end of the year. If she refuses to withhold taxes properly you shoud report her to the IRS. And look for another job.
2007-06-19 00:26:25 · answer #3 · answered by Bostonian In MO 7 · 3⤊ 0⤋
Your employer is supposed to calculate the taxes and deduct them from your pay. If she is not doing this then in theory you are still required to report the income you have earned, and would be required to pay taxes when you file your annual tax return. But if your income is low enough, then you would probably not owe any tax.
2007-06-18 20:36:26 · answer #4 · answered by John Q 4 · 1⤊ 2⤋
Taxes are paid by all employeed persons, you are no exception. However you could be elegable to get the taxes you paid in, back during tax time next year. Call H & R block, they will answer all those questions for free. Good Luck
2007-06-18 18:38:54 · answer #5 · answered by MJ 2 · 0⤊ 3⤋
the employer is keeping track and probably in her check/notes calling you a "day worker"..
and then writes this off as an expense..and expects you to do your own taxes..
taxes are not hard to do.
since your a student you will have that as a deduction.
but yes this employer is keeping track of all the money she wrote via the checks..
2007-06-18 21:17:52 · answer #6 · answered by m2 5 · 0⤊ 3⤋