 If something cost 39.99 than.....? |
how do i know wats it goin to after taxes its a six flags ticket.
so is going to be over 50 dollars? not counting shipin and handaling cause sometimes its alot of taxes
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 Will i be getting a stimuls check? |
| I only made about $4100 and got a small refund, no one can claim me but I looked at the gov site and it said that I should receive my check direct deposit before May 16 and it still hasn't ... |
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 Single? No kids? Work hard? Mugs? |
Once again, unsurprisingly but still bloody irritatingly, there is fcuk all in this year's budget that is in my favour.
I am single, I have no kids, I have a relatively well paid job. ... |
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 I will be moving in a couple of weeks should I use the address that I will be moving to on my tax return? |
| or do i have to use the same address I filed from last year If I have my refund direct depoisted does it matter that my address I am at now is still on my bank ... |
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 Stimulus checks coming in the form of savings bond? |
| My son filed his taxes and received a paper check. Then today he received his $300 dollar stimulus check but it wasn't a check. It was a $200 savings bond and a $100 savings bond that cannot ... |
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 Am I OK? Pease help!? |
| When I fart blood comes out. Is that OK? Is that normal?... |
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 Should the whole of the uk refuse to pay anymore taxes? |
would you join a protest to rid this country of council tax
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do we pay tax for our cars for the roads to be built and maintained, do we pay tax on our wages for our ... |
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 If i got my W-2 form already..Can i do my taxes right away? |
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Really? i thought i have to wait more time.....Don't ask me why i thought this lol
Thanks guys!... |
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| Do Amish people pay incom taxes ? |
| I heard people of the amish religion do not pay income taxes nor do they have social security numbers or pay ssi taxes is this true?... |
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 US citizens: Would you support a penny tax on all drive-thru transactions? |
I believe we have all thought to ourselves, If only I had a penny/nickel/dollar for every time...(insert phrase here.)
What if every time you hurriedly, or lazily, completed a transaction ... |
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 I have not received my stimulus payment yet? Where is it? |
| I filed electronically in Feb. and according to the early schedule I was suppose to get it on Monday. Now its Wed and still nothing? anyone know anything?... |
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kelly_lynne18 | How much money can you make in a private business before they HAVE to take out taxes? |
My boyfriend is an electrician, and is right now working under someone else, and they told him that after he earns $600.00 he would have to start paying taxes.. However others tell us that after $500.00 he would have to start paying taxes, does anybody know the real limit? |
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Alex S
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15 cents. |
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miki
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I am a tax professional. He responsible for his federal & state tax- on all net income, and for s.s. and medicare on net profit over &400. The employer will take out none of this. He needs to make quarterly payments to avoid any underpayment penalties.
P.S. Have him keep track on any expenses he may have for this job, it will help. |
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Paula M
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There is no "limit" or minimum before taxation of wages. If the employee is entitled to all his wages, the IRS will refund him;
no one else is allowed to make that determination.
Even if he is under 18, the employer must take out taxes from the beginning - your boyfriend's tax bracket is probably at the 15% rate. At the end of the year, your boyfriend will file a 1040 and will then know if he gets any money back.
The employer is NOT supposed to wait until a certain level of wages are earned before taxing that income - that's illegal and could get both boyfriend and employer in a lot of trouble.
If that's happening, your boyfriend could get hit with penalties and interest on taxes not paid - and the employer will get fined big time. |
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happyharrytick
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600.00 or more and a 1099 must be filed, so taxes will need to be collected. |
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Zacko
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It differs form state to state. |
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Wicked voodoo dope dark killer
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4 |
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lade40free
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You have to pay tax on any money you make from working that is ordinary income. What they mean is that if an employer pays a person more than $600.00 they are required to issue him a 1099Misc at the end of the year reporting the income paid to the IRS. If your boyfriend is not having regular payroll taxes withheld out of his paycheck, he will be responsible to pay something called Self Employment Tax, which is the Social Security and Medicare that would normally be taken out of a regular paycheck.
This is calculated after he takes any expenses he incurred in making the money. This all gets calculated on a Schedule C and Schedule SE which then flows to the 1040 form. Any profit or income is then included in your gross income in determining your federal income tax. Consult a tax pro at tax time. Keep good records of his expenses. |
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Big Jay 7
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800.00
here's the bad part if he has a job, then the money he makes on the side is added to his yearly total. so if makes 40,000
than what ever he makes on the side is added to that... |
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Anry
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2 many |
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Aussie Mommy
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Your best bet would be to talk to a tax professional. If he is supposed to pay taxes on it, and someone on here gives you a wrong answer, it isn't that person's fault. It would be on your boyfriend. Better be safe than sorry. :( |
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reallifeanswers
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Actually it is $600 yearly but technically you don't have to pay at all. Ever notice the little "Exempt" box at the top of the W4? Do some research on what the IRS REALLY is. They are a fraud. No one has to pay at all. |
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HL
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$600
Look at this link (you need to have Adobe Acrobat reader):
http://www.irs.gov/pub/irs-pdf/i1099msc_05.pdf
Look on page 1, right-hand column under "Specific Instructions" and it says $600.
Note, I am not a tax professional. You'll want to consult your tax professional for the final word on your specific situation. |
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sportsmess
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i dont know about private business but in NY you can make up to $3000 with out paying taxes |
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csabrinam
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I agree with MIKI! I'm a tax professional also, and he/she has the best answer!! |
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