Do Teens have to pay the same amount of taxes as adults?

Question

I just got a job washing dishes at a function hall and was wondering how much does taxes take away? I live in MA and i herd someone talking that if you're under 18 (I'm 15 almost 16) you get an exemption or something?

Answer 1

Greetings form a former "pearl diver"! There is no exemption from paying taxes. Teens and adults pay at the same rate. If your employer is going to give you a W-2 you do not owe taxes until you earn over about $8,000. The "exemption" you heard about is that you can claim an "exemption" from the employer withholding federal taxes from your paycheck. To do this submit Form W-4 (www.irs.gov) to your employee and mark the last box "I am exempt from federal taxes because I will not owe". Of course then you might not get a refund and may owe a little if you earn over $8M. But your take-home pay is greater.

Answer 2

Well, in general, you might pay more taxes than an adult.  There are circumstances where you wouldn't pay Social Security and Medicare taxes because of your age, but your income taxes would be higher if you live with your parents, as you would qualify as a dependent of your parents unless YOU supply over half of your support, as opposed to the "default" that you would be a dependent unless THEY supply over half of your support.

Answer 3

Teens pay the same - no tax breaks for being under 18.  You get a standard deduction, but everyone else does too.  And if you are a dependent, and at 15 you almost surely are, you do NOT get an exemption for yourself.