Tax Question

[Microcell]

Do you have to make a certain amount in a pay period before they start taking Federal taxes? MY employer took NO federal taxes at all this year! I did not make much, but NONE!!

 

[summerrluvv]

Do you have to make a certain amount in a pay period before they start taking Federal taxes? MY employer took NO federal taxes at all this year! I did not make much, but NONE!!

I think you do have to make a certain amount. Did you get social security and medicare tax taken out? I don't get much taken out for Federal at all and I get paid every two weeks.

 

[Microcell]

I got medicare and the other taken out. Just no federal.

 

[summerrluvv]

I got medicare and the other taken out. Just no federal.

Ahhh. Are you going to owe money now? If you do, maybe you could adjust your exemptions so that some federal money gets taken out?

 

[WorldlyWise]

Check your W-4 (with employer) to see what exemptions you claimed. If you claimed several exemptions and aren't making much you probably don't owe any federal tax. Otherwise, you need to correct or revise your W-4 to show less exemptions (you don't have to claim any) or add an additional withholding amount to avoid being hit with a big bill and/or penalty next year.

 

[minnie1928]

Your employer must foresee you making more than $2500/year from them. I'm not sure where/why I remember this from. But it seems to me that if they don't anticipate you making more than that in a tax year, they don't have to withhold the taxes.

 

[Microcell]

I made more than 2500 and I always claim 0 and withhold at higher single rate. I remember in college that I made $5000.00 and did not have to file. I made more than that but less than $8000.00 this year.

 

[speedyf]

If you are single and you made less than $8000, you should be ok and you shouldn't owe anything.

Your standard deduction is $4850 and your exemption for claiming yourself is $3100.....

So...anything you made over $7950, you would owe taxes on. If you made less than $7950, you don't owe anything...but, you could still receive money back from Earned Income Credit or other credits that may pertain to you.

If you would like to have money taken out in the future for Federal Income Tax....you could change your W-4 with your employer and claim Single / Zero / +$$$ whatever amount you want taken out.

speed

 

[summerrluvv]

If you are single and you made less than $8000, you should be ok and you shouldn't owe anything.

Your standard deduction is $4850 and your exemption for claiming yourself is $3100.....

So...anything you made over $7950, you would owe taxes on. If you made less than $7950, you don't owe anything...but, you could still receive money back from Earned Income Credit or other credits that may pertain to you.

If you would like to have money taken out in the future for Federal Income Tax....you could change your W-4 with your employer and claim Single / Zero / +$$$ whatever amount you want taken out.

speed

I made about $12,000 this year, had about $950 taken out for federal and state taxes, and I'm getting back $4,500 this year. I'm not quite sure why the government is "rewarding" me (so to speak) for not making very much money, but hey...I'm not complaining. This is the second year I've gotten a big chunk back. I'm used to paying every year! (of course I was married then and working full time).

 

[Microcell]

I think I see why I got none taken out, because I didn't make enough to withold. I will not owe, because I am married and DH makes much more than I do. He paid in a bunch!

 

[rflorek]

My mother works part-time at our local pharmacy & makes under $7000 per year. Her employer has ALWAYS taken out Federal Taxes from her check (which she always gets back when filing because of her age & income level). AN employer is required to withhold taxes from your check based upon your elections in your W-4. There are a couple of publications that the IRS puts out to explain.

I hate taxes!
Robyn

 

[powellrj]

I made about $12,000 this year, had about $950 taken out for federal and state taxes, and I'm getting back $4,500 this year. I'm not quite sure why the government is "rewarding" me (so to speak) for not making very much money, but hey...I'm not complaining. This is the second year I've gotten a big chunk back. I'm used to paying every year! (of course I was married then and working full time).

My guess would be that you are getting I think its called the Earned Income Credit. You get it when you income is at a certain level and you have children.

 

[sanctus]

I think there's a place on the w-4 where you can have them withhold a set amount each pay period in addition to any other taxes they withhold. Like you could have them hold $20 each pay for taxes regardless of income. You might want to get a good look at your w-4.

 

[Tippythepooh]

I work a 2nd job to make ends meet, but that job has put me $8000 higher than I was last year. Now I am in a higher tax bracket with only 1 dependent to claim. Now I am singing the tax payer blues I am thinking of having another child for the tax breaks.( only joking although it may be cheaper )

Summerluv I remember the days of Earned Income Credit. My DD is 17 so it will soon end for me. It comes in handy as catch up money for everything.

 

[summerrluvv]

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