Teen tax deductions?

Question

i currently work at subway im 17 years old why do they deduct money from my check and would i be able to get taxes at some point.

Answer 1

Taxes are assessed based on your income.  Your employer is REQUIRED to withhold taxes from your paycheck based upon your W-4 filings.

When you file your tax return, if you are due a refund of the taxes withheld, you will get it after you file your tax return.

Welcome to the real world.

Answer 2

Everybody that earns money has money deducted from their paycheck.

You pay taxes to social security administration for medicare and essentially into what is a retirement pool.

Once you get to be sixty five (and up as the law changes) you will be able to get a monthly paycheck from the government which reflects the amount of money you contributed over a lifetime of work.

You will also get greatly reduced health insurance.

You also have money withheld for state and federal income taxes.  Depending on how much you earn, you will most likely be able to get a refund of some of this money  by filing federal and state tax returns after the first of next year.

This will be quite easy for someone in your position to do, so don't fail to file a return.

Answer 3

They deduct money from anyone working. Those taxes are Federal Insurance Contributions Act tax to fund social security and medicare (You may see two columns FICA and MEDI). They do not really affect you at the local time, mostly for retirees. You would only get back money if you paid into these programs during the year (paid more than what was required). Most teen workers do not, so you would probably owe money to the government in April. I know it sucks since it feels like all of your money is going to taxes.

Answer 4

There is nothing in the tax code that says minors don't pay taxes.  Many newborns with nice inheritances pay taxes.

Social security and medicare taxes are an exact percentage and you won't get those back.  You may get a federal, state, or local tax (if you have a stae or local tax where you live) refund if the amount taken out of your check was more than what is required.

Answer 5

Taxes are paid on income earned and has no relevance to age

Answer 6

They deduct money from your paycheck because, since you are employed, you owe taxes.  At a minimum they'll deduct 7.65% for social security and medicare.  Depending on how much you earn and where you live, they might also deduct for federal income tax, and maybe for state and local taxes also.

If they deduct more income tax than you owe, you can file a tax return and get the extra refunded to you.