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 Can I claim disability benefit if I have substantial personal savings?
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 If I live in a state that has no income tax, but work in a bordering state that has income tax...?
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im in ...


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my accountant said she cannot e-file me and I need to file it myself if I go for "married filing seoparate"...


 What is the capital gains tax rate on interest paid from privately held stock?
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 Can someone help me understand this?
Ok, so I just read a news article about the guy who caught the Barry Bonds record breaking homerun ball.

He said that he has no choice but to sell it because he is going to be charged ...


 Hi Can you please some tell me why do employers charge additional 10% payroll taxes on employees.?

Additional Details
Assume that employee is on Bench and he requested his employer to run his payorll for 1 month(on bench).

Does employer has right to charge 10% additional ...


 Check status of rebate online...?
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 Which is bad, Tax Evasion or Tax Avoidance?
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 Can my employer make me work OT? If so is there a maximum amount per week? What if it affects my well-being?
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 What are the best ways to go around tax?
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Brandon Lee
Even though I'm a minor, will I have to pay taxes if I get a job?
I am 16 yars old and live in La Porte, Indiana. I am in DESPRATE NEED of money.I've gotton a few job aplications and My dad won't let me turn them in becouse he has the following excuses: If you get a job you'll have to pay taxes and you aren't old enough to know how that works. You probably won't get hired due to your medical conditions.( I have NF2 and a Tracheosostomy tube.) Even if you do get a job, Well -Fare will take away everything I worked years on for you to get. (MediCade, Foodstamps, Disabillity cheak) Is all this true or is he just saying what he thinks?
                     
 




Jeff T
The third reason is the only one that matters to him.

Your dad thinks he's "earned" the medicare, foodstamps, and checks.

The sad truth is, he's probably right.
If you take a job, welfare takes away his check.
Which is why welfare contributes to keeping people chained in a cycle of poverty.

Here's my advice:
Wait until you're 18.
Move out of the house, and start living on your own.
Is it tough? Yes.
Is it worth it, to break the cycle of welfare dependence? You bet.

---------------

As to the other two reasons:
2) medical conditions. That's no reason not to apply for a job. And whether you get hired is between you and the employer.

1) Taxes are too complicated. Bull!

Every February, you will get a W-2 form from your employer, which is about the size of a postcard.
It lists your name, the company you worked for, how much you made last year, and how much was withheld for taxes.

Here is the ENTIRE form 1040EZ, which you will file each year, as long as the only income you have is from your job:

Enter your name _________
Enter your social security number__________

Line 1: Wages, Salaries, tips, etc.
Copy "what you made" from the W-2 form here _$20,516.32___

Line 2: Taxable Interest.
If you have a savings account, enter the interest you earned: __$12.31____

Line 3: Unemployment Compensation and Alaska Permenant Fund Dividends.
You didn't get any unemployment, and you don't live in Alaska, so: _$0__

Line 4: Add lines 1, 2, and 3. _$20,528.63 (That's not hard)_

Line 5: If noone can claim you as a dependent, enter $8750 if single.
(if you move out and live on your own, and you're not married, that's you) __$8,750__

Line 6: Subtract Line 5 from line 4. __$ 11,478.63 (still with me?) ____

Line 7: Federal Income Tax Withheld.
Go back to the W-2 that your boss gave you, and copy the amount from that form to this line: _$1,500 (for example)_____

Line 8: Earned Income Credit: $0
Line 8b: Nontaxable combat pay:
(You're not going into combat, so _____$0____

Line 9: Add lines 7 and 8: ____$1,500 (Lost yet?)____

Line 10: Tax. Go back to line 6, and look up that amount in the table in the back of the instructions. Enter that amount here.
The table is like this:
If your income is at least, but less than, if you're single, if you're married
11400 -- 11450 -- 1323 -- 1143
11450 -- 11500 -- 1330 -- 1148
11500 -- 11550 -- 1338 -- 1153

So if Line 6 says $11478, then you would enter $1330 in the blank. (or whatever the real table says)

Line 11: If Line 9 is larger than line 10, you get a refund.
Subtract line 10 from line 9, and enter that amount here
(Line 9 says $1500, and Line 10 says $1330.)
__$170___.
Enter your checking account information, so we can send you the money.

Line 12: If line 10 is larger than line 9, you owe us money.
Send us a check.

Sign it, and mail it to the IRS by April 15.

That's it, you're done.


rgentry23
Only in rare cases do you not have to pay taxes if you work. One of those cases is if you don't make a certain amount of money. This depends on the tax laws in your state. As far as your medical condition, you can't be turned down for a job JUST because of that unless you are physically incapable of performing the duties because of such condition.


Jon
"If you get a job you'll have to pay taxes"
Depends on how much you make. If you only make a couple hundred bucks in the year, you probably won't. But don't take my advice for it - go look up a 2007 tax form and do it for pretend. It won't be *that* different in 2008.

"and you aren't old enough to know how that works"
Gotta learn sometime. Better to learn it when you have your parents there for a safety net.

"You probably won't get hired due to your medical conditions."
Then you can also learn about discrimination lawsuits and million-dollar settlements :) That is, assuming you would be physically capable of doing the work the job requires, and they still won't hire you BECAUSE OF YOUR CONDITION. Obviously if you can do the job, and they don't hire you because they just think you're a jerk, then you won't win if you sue them.

"Well -Fare will take away everything I worked years on for you to get."
Welfare does have a max where if your family makes more than that, you don't get welfare. I'm not very experienced in this, but I know that unemployment (which is similar) in Indiana works kind of like:
Say you get $1000 from unemployment. If you get a job and earn $300, now you get $700 from unemployment. So you're not really ahead, but it's not like they say "oh, you earned $300 so now we give you nothing". But like I said, that's unemployment, not welfare.


Gary
You Dad is either not well inform and/or he doesn't want you to work. I suggest you talk to a trusted business teacher at your high school.


Judy1
Rating
You'd have to pay social security and medicare tax, and also income taxes if you made over $5350.

Medical conditions - no way to tell if you'd get hired or not, with or without the medical issues.

Would if affect your welfare payments? Probably.

Good luck.


ms.righteous
Rating
first of all, yes you need to pay taxes even if you're a minor. welfare sucks but it does not take away everything you earn. your tax dollars goes to the federal and state government, the city, your future social security benefits, state disability and all. i started working part-time and paid my taxes ever since i was 15. if you live in the US, you need to pay taxes whether you're a minor, a US citizen or an illegal alien. and what's wrong with working as a minor if you can handle both school and work at the same time? and who says you need to know how taxes work before you can get a job? you might have certain medical conditions but you're not disabled. tell you parents it's good working experience. it will help you get your foot in the door when you look for that full-time job after college. but remember school comes first! part-time job is only something on the side after you manage to get good grades in school.


travelguruette
I recommend taking more classes in school instead of a job and learn how to spell and use correct grammer.


sandra g
Depends on how much you make. Being only sixteen you are only allowed so many hours a week of work. I doubt you will make enough to have to file. If in doubt call a tax office they will tell you. You can also go on the IRS web site. Most of this info is listed.


Hollie T
Rating
yes you will have to pay taxes only if it is over 600 dollars. and you can get a tax man to do your taxes it does not cost that much to do that.
he is not telling the truth about the medical condition. employers can not tell you they do not want you to work for them due to you illness. that is a disaggregation you can sew.
and the well-fare thing it true if you live under his roof and you are getting food stamps. they will add your income in and if you put him over the top of the scale your dad may lose the well fare.


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