They are not taking taxes out of my check can i?

Question

my husbands company is not taking taxes out of his check and i dont want to get in trouble at the ed of the year. but we really count on our tax return. so i was wondering if there was any way to taxes out ourselves so that bat the end of the year they dont take all our rebate

Answer 1

If they are not taking taxes out of your husbands check, then he is more than liking being treated as a self-employed person. Are they taking social security and medicare taxes out? If not, then this is more than likely what is happening.

This means that he will be accountable for his own taxes as any other self-employed individual.

If they are taking some taxes, but not all, then he needs to go to his employer and request a W-4 and follow the directions that come with it, fill it out, and submit it back to his employer.

If your husband is self-employed, then he needs to keep track of all of his expenses for work so that they can be deducted against his income when he files his taxes. Make sure that he tracks his mileage, because it must be documented in order to be deducted. Keep all of your receipts.

You can also submit estimated tax payments on your income if you feel that you are going to owe. I would suggest doing this in order to prevent a huge tax due bill.

I hope this answered your question.

Answer 2

You not only can, but are required to, make quarterly estimated payments of his taxes.  This will include income tax, plus around 14.1% of his gross pay for self-employment tax, for social security and medicare.  If your state and/or local area have income taxes, you most likely need to make estimated payments there also.

The first two deadlines for quarterly payments have already passed, so you'll need to double up on your payments for the other two quarters if he has been working at this job for awhile,

The only way you'll get a refund this year is if you pay in too much on the quarterly payments (then you'd get a refund of any overpayment), or if you are eligible for a refundable credit like EIC