Am I paying any taxes??

Question

I am in college-- Only work part time.

Look:

115 Per Week

Taxes:

9.98 FICA

1.82 Medicare

Where is the Federal income Tax?? The one you can claim back at the end of the year-- I know it would not be much.

Or they are not taking ANY income tax because salary is so low

Answer 1

Not taking anything because it is so low. If you keep that salary up, you shouldn't owe taxes is what they are saying.

Answer 2

If you are only making 115 a week, then your yearly income is only 5980 before taxes....so unless you have interest on student loans that you paid, or you have another job that is taking taxes, you don't even have to file a tax return.

Answer 3

are you just claiming 0 or 1?

yes,

you are making to little to take out fed taxes...but at the end of the year when you claim your wages as a whole, you might end up having to pay up.

Answer 4

If nobody else claims you as a dependent, then you do not pay federal income taxes on the first $8,750 of income.

Answer 5

Doesn't look like they are taking anything.  What did you put on your W-4?  Looks like you either put exempt or 1 allowance.  If you are a dependent, you need to change that to zero or you not only won't get a refund, but you WILL owe when you file if you worked at this job all year.  If you are a dependent, you'll owe tax if you make over $5450 total for the year.  If you are NOT a dependent, you are OK not having anything taken out.  But of course there will be nothing to refund at the end of the year either.

Answer 6

If those are your only deductions, then they are not withholding any income tax.  Check your withholding election (W-4) with your employer.  Your tax liability at the end of the year will be based on total income, not the wage rate.  The fact that they are not withholding income tax doesn't mean that you won't end up owing some.

Answer 7

Did you provide your employer with a W4 Withholding  from?

visit IRS website for more information on withholding.

www.irs.gov

Use the withholding calculator on the IRS website:

IRS Withholding Calculator

  

Purpose of This Computer Program The purpose of this application is to help employees to ensure that they do not have too much or too little income tax withheld from their pay. It is not a replacement for Form W-4, but most people will find it more accurate and easier to use than the worksheets that accompany Form W-4. You may use the results of this program to help you complete a new Form W-4, which you will submit to your employer.

Tips For Using This Program

Have your most recent pay stubs handy.

Have your most recent income tax return handy.

Fill in all information that applies to your situation.

Estimate values if necessary, remembering that the results can only be as accurate as the input you provide.

Consult the information links embedded in the program whenever you have a question.

Print out the final screen that summarizes your input and the results, then use it to complete a new Form W-4 (if necessary), and keep it for your records.