What decides what kind of taxes and deductions you have on your paycheck and how much it is?

Question

I am a 21 year old student dependent and have to pay fica, fed wt., ny st., ny disability, and New York tax. Meanwhile my co worker, is an 18 year old student, dependent only pays fica and ny state disability. I am confused because we make practically the same amount of money but about 25% of my gross pay is deducted compared to less than of his 10%.

Answer 1

Do you remember when you started the job and you filled out those tax forms?  You filled out a federal one and a state one, and on those forms you "claimed" your tax deductions (eg: "Single - 1").  You made some poor choices, your friend made some good ones.  Hopefully you'll get a lot of money back when you file your tax return.

EDIT: There's nothing you can do now; you'll have to wait until the New Year to change it.  One other contributing factor would be your income.  If it is significantly higher than your coworker's, you might be required to pay more taxes.

Answer 2

You would have to pay all of those taxes one way or the other..

you are having them deducted now....

your co-worker still owes them, but pays a lump sum when he files his taxes at the end of the year....

maybe several hundred dollars on each....

Answer 3

It should be based on the way you filled out your tax withholding form when you were hired.  Check with your employer..If you are not married, ive always heard the best way is to file single,O  then you get more back at the end of the year.