my job does not withhold taxes I am married with two kids under the age of 10 making 600. a week what % should

Question

I need too know what % per week I should be puting aside to pay both my federal and massachusetts state tax.

Answer 1

How does your job not withhold taxes? Are they paying you cash and not reporting it? I would think the company you work for could get in trouble for not withholding on your pay.

As to answer your question, there are too many unkown questions in order to provide an accurate answer.

Answer 2

Do you receive a paycheck that withholds Social Security and Medicare?

If you do, and this is the total of the family income, then you are OK with zero federal withholding. This is because an income of $30,000 with a MFJ return and two children will get a sizeable refund due to the Child Tax Credit and Earned Income Credit, even with zero income tax paid.

The State of Massachusetts also has an Earned Income Credit which should result in your owing little or no state taxes as well.

If you do NOT receive a paycheck that withholds SS and Medicare, but work for cash, you situation is not nearly as beneficial. It is not possible for me to say how much you will owe, but any Earned Income Credit you may get will be largely wiped out by the addition payroll taxes you will have to pay.

Answer 3

Not enough info to answer your question. You aren't likely to owe any federal income tax, and are probably eligible for an earned income credit of at least $1500 and maybe more. Since you don't give any clue as to what type of work you do, or how many business expenses you have in earning that money, it's not possible to say what you'll owe for federal self-employment tax or for Mass. state income tax. You'll owe a little over 20% of your net (what you are paid, minus associated deductible business expenses) for self-employment tax plus state income tax. If you don't have many business expenses, then put aside a little over 20% of your income for taxes and you should be OK. You should be filing quarterly estimated tax payments though, to the IRS and most likely to Massachusetts.

Answer 4

Call the IRS for the Federal and the Social Security. The SS will get you because most people do not realize that an employer pays a big chunk of it. The County offices should have the state and if not, will be able to head you in the right direction.
The Federal, state and the SS tax will average approx. 35% of your income weekly. ($180. or more)

Answer 5

Yes to all the answers you have already gotten. If you are not having at least 10% or more take out and sent to the IRS, you may have a bad surprise coming at tax filing.

Answer 6

The IRS' withholding calculator (http://www.irs.gov/individuals/article/0,,id=96196,00.html) does a good job at helping you figure out how much federal tax to have withheld from your paycheck.

Massachusetts' Department of Revenue may have a similar withholding calculator on their web site, but I sure couldn't find it. (https://wfb.dor.state.ma.us/webfile/wsi/)

Answer 7

well if both of your kids like water and fun during the summer and you do not live farr from old forge then one of my favorite places as a younger kid was water safari there are plenty of water rides fun and also dry rides and it is not an outrageous price you can even buy a deel that consist of a half of day at the park and then a whole nother day it never gets boreing

Answer 8

how many exemptions do you claim? what's your husband make? Is that net or gross? Do you file as a married couple. Lots of unanswered ? here, we need details

Answer 9

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