I am under age 18, do I have to pay income taxes for money I earned.

Question

I live in Ohio

Answer 1

Yes, all earnings are taxable.  You may be a low enough income to avoid taxation, but that's not an age issue.

Answer 2

Depends on how much money you earned and how you were paid, not on your age - being under 18 doesn't change anything.

If you earned money from self emploiyment, you'll have to file and pay some tax if you yearned over $400.

If all of your earnings were as an employee, and social security and medicare were withheld, you can make up to $5450 for 2008 and not have to file or owe any federal taxes.  Depending on where you live, you might or might not owe state and/or local income taxes.

Answer 3

If your question is do you have to pay the taxes that you would have to pay if you were an adult, the answer is yes.

There is a possibility that you might make so little that you do not have to pay taxes due to making less than the minimum.  However, the minimum is lower for persons who can be claimed as a dependent by anyone else (nearly all children making under the minimum can be claimed by their parents), so you may have to pay taxes even if making under the minimum that applies to most adults.

Answer 4

If you have income that exceeds the filing requirement amount for your filing status you must file a tax return and probably will be paying some tax.

The filing requirement amount depends upon a number of factors including your dependency status and the source of the income.  Since you're under 18 you're probably a dependent.  That makes the filing requirement for 2008 $5,450 for wages subject to withholding.  If you were not a dependent then it would be $8,950.  As a dependent, you must file if you have unearned income such as dividends or interest in excess of $850; that rule does not apply if you're not a dependent.  Or if you are self-employed you must file if your income exceeds $400.  This is regardless of your dependency status.

See IRS Pub 501 for a complete discussion on filing requirements.

Every state with an income tax has their own rules.  You'll have to look it up on the OH Department of Revenue website.

Answer 5

The short answer is yes you do.  However, if you made less than $5450, you won't be paying federal income tax.  If taxes are being withheld from your paycheck, you will need to file a tax return to claim your refund.

I don't know what the cut off limit is in Ohio.

Answer 6

If you earn more than  $5350 then you will pay tax anything below that you will not be taxed on

Answer 7

yeah, give it to your parents to do. That's what I did (i modeled and acted) i think like after $500 you gotta claim. Go to your local library or call them and ask them if they provide tax help b/c a lot of the ones i went to in different cities, they helped older people and they leave tax forms there.

hope that helps

Answer 8

Absolutely.