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 tax deduction at source on interest for Saving account?
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 If you turned 65 in late 2009 are you considered 65 for the whole tax year?
For the Federal Tax Return
I Cr 13:8...


 Indexation Allowance on Capital Gains?
Could anyone tell me the indexation allowance for June 2010 please?

I have looked on HMRC website cannot find the allowance.

Thank ...


 Can you receive financial aid or student loans if you owe taxes to the IRS?
I am not 100% positive about the details, but my friend inherited some money from her Mom when she died, and I think some of it was in some sort of investments, and when she took it out, she never ...


 Adoption tax credit: can I get a refund if it exceeds my liability?
Ok, first, our family pays no taxes. We're a single-income family, I'm fairly low- to middle-income and we have four kids. So I do no withholding at all, and with all the child tax credits, ...


 Can I file "tax exempt" and have additional holdings withheld on my W-4?
I currently (and have for 2 years) have my tax witholdings set as exempt and witholding an additional amount on my W-4. I tried to change my W-4 to exempt and witholding a different additional ...


 post office never did foward my irs check.?
irs sent my refund check to my st. address instead of my post office box. they sent the check may 24. i have called irs to see if they sent the check back and they said its not in their system. post ...


 Why would my boyfriend blame me for owing the IRS? Because he feels stupid ?
I have been seeing this guy for 8yrs ( yes , YEARS) I don't sleep with him , I dought I EVER WILL. He recently got caught be the IRS (I.R.S.)and initially owed them 28 thousand in back taxes....(...


 what are the taxes on $6,000,000.00?
Do you know what the taxes on six million dollars is? If so i would appreciate your answers no ridiculous answers please!!!
Additional Details
I am being given ,by a friend, this in ...


 Can I claim exemption on my W-4?
So I have my first job ever and I have to fill out a W-4 form, and I got stuck on step 7 which says:
"I claim exemption from withholding for 2010 and I certify that I meet both of the ...


 How do i go about getting my tax return from 2007?
I joined the Air Force in 2007 right at the start of the tax season and apparently my PIN to get my refund didn't go through. I called the IRS people and they told me I needed to send a copy of ...


 REVISED: Mom passed away leaving my daughter as beneficiary on an Annuity?
Here is more specific information on my previous question: My daughter could not have the money until she turned 18. When she turned 18 she cashed out the annuity being a death benefit inheritence ...


 We got a license for a small business but that is as far as we got. Do we owe taxes?
We renewed the license for a couple of years, but nothing has been done or nothing materialized. Do we need to file a tax return on this small business if there has been nothing done but to revew ...


 Why can't we have flat tax system?
I think income tax is bad because it steals all the money from rich people, and they take little money from poor people. Doesn't that teach us that less education means worse job, and worse job ...


 How will today's budget affect Educational Maintenance Allowance (EMA)?
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 will pensioners over 75 have their tax allowances increased by £1000?
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 Is EMA being scrapped in the new budget cuts (UK)?
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 Do I bring my business credit card bills to my accountant when filing for expense deductions?
I had recently opened a new business, but I was not sure how to file for expense deductions for taxes. Do I bring my credit card bills? Or how would I present my expenses to my accountant?
A...


 What will I have left after tax (Australia) if I get a bonus of...?
if i get a mid year bonus of AU$2950, and it is not entered into my account with my pay but as a separate lump payment and gets taxed (i have a HECS/Uni debt)..
what will I have left?
A...


 Is it worth amending my 2008 tax return?
So here's the story...I realized that I didn't include any info from my 1098-T form I got from my university in 2008. I remembered to do it in 2009 and because of one of the new education ...



Pete B
How much income tax do I have to pay as a 17 year old?
I have a summer job, and I make minimum wage in Arizona. I will only have this job for 12 weeks, and will make, at most, about 3000 dollars. What are the rules for minors paying income tax, unmarried, no kids, still in school? About what percent would come out of my pay?
                     
 




tro
if this is a job that you are completing a W-4, file it as exempt and no income taxes will be withheld and you won't have to file to get any refunded
if this is a self employed job, that is another matter, as such you will be responsible at least for your self employment tax, approx. 15.3% of your Sch C 'net"
let's hope your employer is not paying you this way


StephenWeinstein
You have to pay the same amount as if you were 18 or 19. The rules are not different for minors.

A total of exactly 7.65% will be withheld for FICA, social security and medicare. Something may or may not be withheld for income tax, but it is does not matter how much. If you are not married, the total of all your income for the year is under $5700, and all of it is from working as an employee, not from working as an independent contractor or from investments, interest, dividends, etc., then you can file a tax return after the end of the year and have all of the income tax refunded to you.


Bash Limpbutt's Oozing Cyst©
If that's your entire income for the year you won't pay any Federal income tax. If any is withheld from your pay it will be refunded to you when you file your return next year. Your wages are subject to FICA taxes (7.65% net) so that is all that needs to be withheld from your pay.

If you know with certainty that the $3,000 will be your ONLY income for the year and you had $0 income tax liability last year, you can file your W-4 at work as EXEMPT. If you do that, leave lines 5 and 6 BLANK, and write EXEMPT on line 7.


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