 Home run Ball? IRS Taxing it!? |
The guy who caught Barry Bonds home run ball wanted to keep it so The IRS wanted to tax him on the value of the ball he does not have the money for the taxes so he has to sell it.
Do you T... |
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 Why are people so big on the flat tax? |
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 How much would the tax be for something $249.99? |
| Hey all, I'm not very familiar with taxes, so I'd really appreciate the help. I'm planning on giving my nephew enough money to buy something that's $249.99, the only problem is ... |
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 Which candidate will tax me less? |
| I make around 375,000 a year. I have 2 kids. Will McCain or Obama tax me less?... |
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 Am I getting ripped off on my tax service? |
I went to jackson hewett for taxes, and my refund was going to be 370 dollars basically, and am getting charged $150 by jackson hewett, the tax preparer! Is this too much?
Additional Details... |
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 Im in uk and i have 35,000 dollars? |
| i wana buty a terrance house which has 4 bedrooms can i buy it with 35,000 dollars is it enought to buy a house ... |
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 Are Christmas Bonuses Taxable? |
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 Deceased person being billed for council tax (UK)? |
| My father passed away in January 2006. He used to run his own small business, and rented a shop unit from a landlord. Upon his death, I informed the landlord and local council of this news, and ... |
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 I pay 800 a month in child support is there a way to claim that on taxes in any way.? |
i would like to do this without asking the mother for permission or a court order
Additional Details
well i realize child suport is a oblidation smat asses but i get a tax break on my ... |
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 My mom and sister are moving in with us. Should we claim them on our taxes? |
| We'll be paying her $1,000 monthly, and my sister will be a college student. We are doing this because child care is too expensive in our area. It is cheaper to have them move in and provide ... |
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 I haven't worked for the entire year of 2006, do I still have to file for some form of taxes?t? |
| I haven't collected unemployment or any other form of income I lived strickly off of my savings.... |
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 Do they have social security in the UK? |
Additional Details
if so how much do you get and what is it called there?... |
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Gemma C | If i only work 12 hours a week are they allowed to charge me tax? |
I get paid monthly and only do about 48 hours a month cos its 12 hours a week should i be getting taxed for this? ( i didnt think you did but i am)
Can i claim any of it back?
I need advice please help.
Additional Details
I get minimum wages for part time work which is 12 hours a week but get paid monthy how much are they supposed to take off that? |
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suerye
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As others have said, it depends on your income. This is just a guess, but I imagine your monthly gross pay is about £265 a month.
If this is the case, you should not pay tax. You need to ask your employer for a form P46 - you sign this to say its your only or main job, hand it back and they will put you on emergency code. Then you need to ring HMRC (your employer will give you the phone number) and ask them what info they need to put you on a cumulative code. You will then get a refund through your pay.
Don't wait until the end of the year or you will be in a long queue with 100's of others all wanting refunds.
I have to say that this situation is not the fault of HMRC, but rather your employer for not giving you the form to fill in. |
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Robin Darkmere
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Tax is calculated by how much you earn and is based on the rate of 27 pence in the pound.
In the UK a person can earn up to £5,000 a year and not pay tax. |
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KEZ
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Yes, although it depends on your average earnings. If you earn above the minimum threshold for tax, then you will be taxed. |
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dyno
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If your in the Uk it sounds to me like they are taxing you on a month 1 basis, in the uk you are allowed to earn £5225 before tax this goes up in April. There is a form you can download from the Inland Revenue website which allows you to apply for a tax refund |
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Croxx
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Depends if you are earning £5 an hour or £100 an hour?
Based on your earning not your hours of work... |
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not Stidge again
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As has already been pointed out you are taxed once you start earning over the threshold for your tax code. It has nothing to do with hours you work. |
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Gem
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edit*** Just noticed (d'oh!) you put this in Taxes, UK. Still early morning here, ignore unless US.
Taxes affect all of us in one way or another.
First, social security and medicare are taken out (6.2% & 1.45% respectively) and those withholdings start at zero (all income is taxed). You cannot get these taxes back they are being held for our alledged retirement.
As to you Federal and State (if applicable) withholding, this depends. Many times small companies screw up and use the wrong withholding table for monthly paychecks. If they are using the weekly or bi-weekly, then most definetly you will see withholding.
As minimum wage varies by state, I don't know how much you actually make so I can't go and look it up. Here is a link to the actual guide that employers are to use for withholding. One note, if your employer uses payroll software the numbers may vary a little. This is a 69 page pdf report...
http://www.irs.gov/pub/irs-pdf/p15.pdf
The pages you need to look at start on page 52 (W-4 single/monthly) page 54 is married/monthly. Look across the top for number of exemptions claimed on W-4 and then down the left hand for the gross (before social security taxes) amount of your check.
Odds are if you make minimum wage at 12 hours a week, you can get all your state/federal withheld back. |
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Bmw
 |
its not how many hours u do but how much u earn. i was working 16 hrs a week and earning £90odd pounds weekl a couple of years ago i was just below the level at which u have to pay tax. if u r earning less than this i dont thnk u should be being taxed. u need to check yr tax coding this tells u yr personal allowance for the year eg 457 L would mean yr tax free allowance is £4570/year. get yr tax code and add 0 divide this into 52 to see how much u can earn weekly before being taxed. if u shouldnt be paying tax then contact tax office to get a refund. maybe yr company didnt have yr coding and put u on emergency which they have to. hope this helps |
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simplesimon
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Yes! For emphasis I repeat the previous (correct) assertaion that tax is done based on earnings, not hours worked.
However! I don't think you should be paying tax:
Given your situation... taking a wild stab at it... I think it might work out like this: You do 12 hours a week at c. £5.50 = £66 a week. Which equals £3,432 a year. Easily below the c. £5,250 minimum.
If this is your only income, then it sounds like you are paying too (i.e. any) much tax. Likely because you are on the wrong tax code. If you are in a large and helpful enough organisation, it might be easiest to speak to HR to see if they can help... otherwise you will have to HMRC to arrange for a rebate and to ammend you details for future tax. |
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Curious Steve
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tax is based on income |
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Random Hangman
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You get taxed on everything above a certain income level (this depends on which country you're in).
You have to remember that if you earned £100 an hour, 48 hours a month would give you a pretty good income and certainly a taxable one! |
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❂ BlueBerry ❂
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'they' are allowed to do anything and everything
get to the tax office as soon you get your p60 and you might get it refunded |
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Unbiased.co.uk Find an IFA
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If you are aged under 65 you are allowed to earn £5,225 a year before you start to pay tax. If you earn less than this, but tax is being deducted from your earnings you can claim this back. Either go to your personnel or payroll department for help, or contact your tax office.
Disclaimer:
The answers above are for guidance only and should not be acted upon without you receiving independent financial advice relevant to your circumstances. To find and IFA please call 0800 085 3250 or go to http://www.unbiased.co.uk. |
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bmtxkeller
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you will get taxed. and yes if you received a W-2 you need to file your taxes... you could get something back or you could owe depending on how much you paid in. |
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Sarah L
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nope...well they dont 4 me neway...xXx |
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rainand27
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you will be taxed ever dollar you earn over 120 a week, You get it all back on tax though |
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