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i am 18 and just moved out of my parents house how do i manage taxes?

2007-12-07 22:57:20 · 2 answers · asked by Anonymous in Business & Finance Taxes United States

2 answers

Odds are you just work for someone else. Your employer withholds taxes weekly, issues you a W-2 at year end (which shows you how much your were paid and how much was sent to the tax man) and then YOU file state & federal taxes.

Since our public schools have done such a bang up job of helping you figure this out, my suggestion is to go and pay an expert to do your taxes for you. H&R Block can do it for less than a hundred bucks.

2007-12-07 23:16:56 · answer #1 · answered by Gem 7 · 0 0

You'll file a federal return and a PA return. If you just moved out now, your parents can claim you as a dependent for 2007 unless you were providing over half of your own support (and support includes the cost of housing, food, etc). So when you file your federal return, you'll check the box that says you can be claimed as a dependent, and follow the instructions from there. You can probably use a form 1040EZ for your federal return. It's really easy (that's what the "EZ" stands for) and I sure wouldn't pay anyone to do it for you. You will be able to download the form and instructions at irs.gov starting in January, or pick up copies at your local library - when you get to that, post again here and somebody will walk you through it if you're confused.

PA has a flat tax, so that form is simple. You can get copies of that form at state.pa.us starting in January.

In PA you almost surely have a local tax also, 1% or higher if you're in Philadelphia or Pittsburgh. The only hard part about that one is finding the form. There is a tax collector for your area, and they send out the forms, but if you didn't pay taxes last year they won't know about you yet. Ask someone in your town or city who it is, or call your county courthouse, they should be able to tell you.

2007-12-08 01:34:36 · answer #2 · answered by Judy 7 · 1 0

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