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UR Personal HairStylist Amanda | They are taking half my paycheck! Taxes are anyway. I'm a cosmetologist. ? |
How can I solve this problem?? I've never had this happen. They tax half of my paycheck no matter how much I make. I make hourly with commission. I do make tips too. and I do report them. Taxes shouldn't be tipped because they are not a regular source of income. There is no regular daily income for them they range varying from 50 to 5 dollars a day. It all depends on the people. I only do men's haircutting so. Yah how can I get them to stop taking 50% of my income I only claim for me and my husband. I only make like 800 bucks a month I can't even get welfare because of my damn occupation. They were like well you make too much because of tips but not really. HELP!! I was in school all last year so I dunno if that makes a difference I'm sure I made less than 3 grand.
Additional Details
So my gross income is like 900 a paycheck but after taxes I usually only get 400 or 450, because of all the taxes they take out and they do record my tips on my paychecks and tax them all together. And does it make a difference if I'm the main income in the family of two?? |
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chatsplas
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Tips are taxed, don't know about taxes being tipped.
That's the law, you report tips and are taxed on them.
However, it shouldn't be 50% of your total income on $800.
Are you W-2 employee or 1099 independent contractor? |
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Judy1
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Tips ARE taxable income, why did you think they aren't? The reason your tax seems so high is that taxes are being withheld on not just your paycheck but also on your tips, and you already have the tip money. |
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travelguruette
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Tips are income and you are required to report them if you make more than $20 per month. They are not really taking 50% of your paycheck because you are not counting your tips into that pay. Commissions are taxes at a higher rate than salary. I have a commission job and I claimed more on my W4 so less was taken out and I plan so I break even. |
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Blair
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If you receive a paycheck and taxes are deducted than I recommend you adjust your W4 form (your employer should have one). If you do get paid by paycheck and there are NO taxes withheld from your check, then you are working as an independent contractor. An independent contractor is responsible for paying their own income tax and you are subjected to an additional tax called "self employment" tax. Therefore, you tax rate will be different from a regular employee. And no matter the amount of your tips are, they are considered earned income which is subjected to income tax.
You also mentioned you were in school last year. Did you claim your education expenses? That would be form 8863; it's called the hope credit or the life long learning credit. This would have helped you. More questions, contact www.gparisjohnson.com. there will answer your questions. |
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lorijotx
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You pay tax on all income. Tips are income thus taxable. I would double check the W4 you filled out to make sure you marked it MarriedOne and not Singleero.
Have them open the books and show you what they are showing as your income. Something isn't jiving. |
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bostonianinmo
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Tips ARE taxable income. Your employer is withholding tax based upon your wages, commissions, and tips. That's what the law requires him or her to do, so your employer is doing things the right way.
Your taxes are NOT 50% of your total income. Add your tips to the wages and commissions and THEN figure out the tax rate. You'll discover that it is MUCH less than 50%. |
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Jss
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With income of $800 per month, they should not take 50% for taxes. Something is wrong.
Your wages and tips income are subject to 7.65% FICA taxes. You should hardly have any federal deduction and state deduction. At $800 per month, the annual income is $9600.
Even if you are Single (or file married filing separately) without any dependent, you have a deduction of $8,950. So your total federal tax for the year should be less than $70. Weekly federal deduction should be maximum around $1 to $2. |
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RayeKaye
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You probably just need to change your withholding rate. Reduce the percentage withheld on your W-4 form - but not so much so that you have to pay more in April. Sounds like you'll have a whopping tax refund this next time. |
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