Okay i've recently got my first job kinda i work as a dishwasher off and on at a restaurant. My Question is this the cook i know is an older lady who i know and virtually consider her family gets taxes taken out of her check which i know she makes more than me. My question is this should i be filing for taxes or taking out for taxes? .? I'm not the brightest i guess about the tax thing. I've never had to do anything with taxes. i just know she mentioned it and she said i didn't have to. So any advice? or explain what exacually is taxes'?
2007-11-23 13:57:33 · 4 answers · asked by Bobby W 1 in Business & Finance ➔ Taxes ➔ United States
Yes you should be having taxes taken out, and if your employer isn't doing it, they are breaking the law.
If you don't file at the end of the year and pay the taxes you owe on what you made, you are also breaking the law.
Taxes is money you owe to the government on your income.
2007-11-23 14:19:37 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
You should have Social Security and Medicare taxes taken out no matter what. You may not be making enough to have income tax withholding. Keep ALL your pay check stubs and, if you don't get a W-2 report them along with a Form 8919 so you can get credit for social security. It may be a long time before you can retire, but you could become disabled anytime and would be entitled to benefits then.
2007-11-23 22:53:04 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If you read through your pay stub, you will see that your employer is witholding taxes. Some is for social security, some is for federal taxes.
Check out "who must file" under the instructions for Form 1040EZ (your federal tax return) on the IRS web site. (see link below). There are tables to follow, depending upon how much money you make, whether you're married or single.
You may also have to pay state income taxes depending upon what state you live in.
2007-11-23 22:35:12 · answer #3 · answered by The Zabler 2 · 0⤊ 0⤋
Your employer should have made you fill out an I-9 and a W-4. The W-4 is your federal withholding allowance which will dictate the minimum federal tax liability that will be withhheld from your paycheck. The FICA portion is made up of 6.2% of your wages for social security and 1.45% of your wages for medicare. www.helpmebookkeep.com
2007-11-24 03:17:52 · answer #4 · answered by helpmebookkeep 1 · 0⤊ 0⤋