I had just gotten employed at this business and I'm a college student. However, I am concerned if they will take taxes out of my check, being that its the end of the year, I was told that they wouldnt, however, if it is true, then I'll budget. So my question is: Can the gov't deduct taxes from your payroll check when its the end of the year?
2007-12-09 20:12:33 · 11 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
every check they will deduct SS and FDIC
when you file your taxes at the end of the year.You should be able to get back more than you've paid in.
2007-12-09 20:22:28 · answer #1 · answered by Just me again ☺ 6 · 0⤊ 2⤋
They are going to take Social Security and Medicare regardless. But when filling out your W-4 you could indicate exempt, and then they wont take out any Fed or State withholding. If you do put exempt on your W-4, make sure you wont have any tax liability for the year. Also, unless you don't expect to have a tax liability in 2008, you'd better change that W-4 at the start of 08.
2007-12-10 09:13:48 · answer #2 · answered by nealeinmi 3 · 0⤊ 0⤋
Yes. Anytime you earn an income, it is subject to taxes, unless the check will be received after December 31, 2007, then it would be on your 2008 taxes.
2007-12-10 04:19:42 · answer #3 · answered by rad-tech 2 · 1⤊ 0⤋
Being the end of the year doesn't make a difference. If you make enough that they'd take taxes out if you made that much in January, they'll take it out in December.
2007-12-10 21:03:05 · answer #4 · answered by Judy 7 · 0⤊ 0⤋
You go to work--get a check--the government will expect some kind of payment. End of the year?? April is tax time--not January.
2007-12-10 04:16:37 · answer #5 · answered by fire_inur_eyes 7 · 0⤊ 2⤋
The employer should withhold taxes according to law (FICA, Medicare, tec.) income taxes per your W-4 form. It doesn't matter what time of year it is or when you started employment.
2007-12-10 10:15:42 · answer #6 · answered by npk 7 · 1⤊ 0⤋
they deduct taxes from your payroll check no matter what time of the year it is.
2007-12-10 04:16:15 · answer #7 · answered by mave 4 · 3⤊ 1⤋
Yah
2007-12-10 04:16:03 · answer #8 · answered by usmanca 3 · 0⤊ 0⤋
they'll only take taxes if you haven't paid sufficiently. As long as you've had taxes taken from every check and didn't take any loans, you should be fine.
2007-12-10 04:16:21 · answer #9 · answered by Anonymous · 0⤊ 4⤋
yes they can
2007-12-10 04:23:12 · answer #10 · answered by babygirl 4 · 0⤊ 0⤋