Eventhough I am only 17. I also live in California, if that helps. thanks.
2007-07-10 17:11:27 · 9 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
You will have 7.65% of your wages taken for Social Security (6.2%) and Medicare (1.45%). You will not be refunded these taxes, they pay for the retirement and health care benefits of currently retired people. There may also be small deductions taken for local taxes or unemployment insurance.
They may or may not withhold income taxes, depending on how much you earned. If you did not fill out a W-4, then you may ask your employer for one, or you can submit one to your employer. The information on your W-4 will determine your withholding.
Here is the W-4:
http://www.irs.gov/pub/irs-pdf/fw4.pdf
Rest assured, if you earn less than $5,350 in 2007, then all of your federal income tax withholding will be refunded to you if you file a tax return in 2008.
2007-07-10 17:21:47 · answer #1 · answered by ninasgramma 7 · 3⤊ 0⤋
The calculators are doing it right for your actual tax return, although the withholding will have been calculated based on just the time it was for. You'll get back what was withheld for federal income tax. If something was withheld for state, you might get some or all of that back, depending on what state you're in.
2016-05-19 01:40:37 · answer #2 · answered by henrietta 3 · 0⤊ 0⤋
the mere fact that you earn an income, irregardless of age, you need to pay taxes and social service premiums but a whole lot depends on whether your employer has made you as part of the formal deduction, meaning the expenses related to your employment is properly recorded and recognized. they could consider you under a part time non-regular basis in which case, your salary for the whole year is under the exemption level. :) which is good for you.
2007-07-10 20:00:29 · answer #3 · answered by sunntonya 2 · 0⤊ 0⤋
Yes
2007-07-10 17:20:40 · answer #4 · answered by itchianna 5 · 0⤊ 0⤋
Your age doesn't matter. Your income will determine how much tax is withheld. At the very least they'll take out 7.65% for SS and Medicare taxes.
2007-07-10 17:25:54 · answer #5 · answered by Bostonian In MO 7 · 3⤊ 0⤋
Well, probably so, at least social security and medicare, probably CA tax, and maybe federal income tax depending on how much you make.
2007-07-10 17:43:42 · answer #6 · answered by Judy 7 · 1⤊ 0⤋
Yes. Uncle Sam gets his first.
2007-07-10 17:15:30 · answer #7 · answered by bhappy 4 · 0⤊ 0⤋
**Shakes Magic 8-Ball**
Says - Chances Are Good!
2007-07-10 17:18:47 · answer #8 · answered by Mike Frisbee 6 · 0⤊ 1⤋
yup, welcome to the world !
2007-07-10 19:47:26 · answer #9 · answered by booboobooboobooobooo 3 · 0⤊ 0⤋