Help me please...(I'm a little concerned)

[Tiggerlover91]

Does anyone know if there's a certain amount you're supposed to make a year before an employer starts to withhold federal income taxes.
I'm concerned as I just looked at one of my W2's and they only withheld $6 and some change on a little over $2000 in pay!!! I was like huh????? Wish I would have payed more attention to my check stubs....my fault.
Well at least this year, I can fix it when I go to work Thursday and have them withhold that extra $10 out of my paycheck no matter what. I only work about 16 hours every two weeks and sometimes less than that, but I'd rather have the taxes taken care of now than have to pay Uncle Sam later.

I hope someone can help.

Denise

 

[tiggerlover]

I am not sure what the limit is, but I do know that I ran into the same problem. I only worked part time the last few weeks of 2003 and they only took out a few dollars in Federal taxes. I called my employment office and they said it was because I didn't make that much. Hopefully someone else can answer this question for you, just wanted you to know you weren't the only one.

 

[worm761]

you have to make more than $600 in a year and something like $250 in a pay period before they take out taxes.

 

[Tiggerlover91]

Originally posted by worm761
you have to make more than $600 in a year and something like $250 in a pay period before they take out taxes.

Thank you worm761!
Well, I made more than $600 during the year, but I NEVER made more than $250 during a two week pay period. The most I ever made was about $100 and some change. So do they only take out for the fact I made more than $600? Do I have to meet both requirements for a set amount to be taken out, or just one of them for anything to be taken out?
I only make $5.75 an hour and work about 16 hours every two weeks, if that. Sometimes I only get about 4 hours on a pay period. Good thing I work at Ruby Tuesday's also! That's the job that pays my bills. The second job is what I call "float money".

 

[robsmom]

The issue is that unless you adjust your w-4, your employer doesn't know that you have other income. By itself, if you only made the $2000 and had no other income you would end up owing zero in taxes so hence nothing is withheld. Because you do have other income, you are going to owe money on the $2000 so you do want to adjust your withholding.

 

[Dan Murphy]

http://www.paychex.com/employees/tipincome.html

 

[wovenwonder]

Request to have a certain percentage witheld in federal taxes rather than from the tax table. I would request a minimum of 5% from each check. But, depedning on your life situation you may want to request as high as 10% weekly.

 

[onecoolmama]

When I waitressed I always told them to take out an extra 5-10 dollars per paycheck.

The first coupld years in college my mom claimed me..so I needed them to take money out. The rest of the time (I waitressed for about 6-7 years) I worked more then one job so I wanted to cover myself.

Some people say that it is better to get all of your money..put it in a bank earn intrest yourself and then pay when tax season comes. However, I get really stressed out when I owe money in Taxes. I start freaking out and ao while this is true for some people...not for me. But, when I waitressed they never took taxes out of my paycheck unless I told them to..because I didnt make enough.

 

[ByTheSea]

payroll software has no way of knowing if this is a second job or your only job, so the tax tables look at each check - essentially extend it out to an annual income (if you are paid week, earnings are multiplied by 52, if bi-weekly by 26 etc) to calculate withholding based on the tax tables.

When working part-time jobs either in addition to another job, or if married filing jointly, in addition to your spouses income, it's a good idea to request either an additional flat amount per check, or a flat percentage.

If you request a flat 15% withholding and the calculated withholding based on the tax tables is greater than that percentage, the higher amount will come out. But if the calculated tax is less than 15%, the full 15% should be withheld.

 

[Tiggerlover91]

Okay guys, thanks for all your help. Some of what you said was like you were speaking Hebrew, but that's okay.

I plugged some numbers into a 1040A based on just my income and as it stands right now, without DH's income we would have a $388 refund. I can accept that!! We got back about $1300 last year, but it doesn't look that will happen this year. So long as I don't owe, which is what I was afraid was going to happen, I'm happy!

 

[HLFDZN]

I only work about 12 hours a week and don't make much money either ..I think I made maybe 5000 last yr...If I remember right they only withheld like 28.00 for federal taxes. I was stumped too..this put my mind at ease. I claim 0 dependents too. Melissa

 

[momm2four]

I must have put all four of our kids as exemptions last year b/c I made right under $20,000 from Jan to May teaching school and they only took out $5.xx from my checks for that entire time. I couldn't believe that amount when I saw it on my W2, but I double checked my last paycheck and that's what it said.

Lori P.