Can I file taxes if I only worked 2 months?
Yes , you should always file your taxes. Even if you dont owe any taxes. Its still best to always file to keep your record up to date with IRS and no missing years in your tax record.. There is no reason not to file. Also , if you only worked 2 months and had taxes taken out of your pay. You prob get a small refund.
Can I file taxes if i only worked 5 months this yr?
Sure you can fill out your own 1040 income tax return for the 2012 tax year and you might even be required to fill out and file you own 1040 income tax return for the tax year and if you did some federal income tax FIT amount withheld and that amount of FIT is reported in the Box 2 of your W-2 that you will receive from your employer after the end of the year 2012 during the 2013 tax filing season and then you might be able to qualify for a REFUND amount of some are all of the FIT at that time during the 2013 tax filing season. Using your above enclosed information you can NOT qualify to claim any of the above named taxpayers as your qualified dependents on your correctly completed 1040 income tax return for the 2012 tax year during the 2013 tax filing season at all. www.irs.gov use the search box for publication 17 go to chapter 3 Personal Exemptions and Dependents and read the rules and follow them for this purpose and time you life. http://www.irs.gov/publications/p17/inde... http://www.irs.gov/publications/p17/ch03... And you do have to sign the completed tax return where the below statement is included for your use at this time in your life. Under penalties of perjury, I declare that I have examined this return, and to the best of my knowledge and belief, it is true, correct, and accurately lists all amounts and sources of income I received during the tax year. Your signature Date Your occupation Hope that you find the above enclosed information useful. 08/21/2012
I'm 17 and I made $9000 working at a movie theater, what do I need to know about my tax return?
This year there are more requirements for filing income tax, which will not only slow down when you will receive your tax refund, but also make it so you will have to wait longer to file your taxes. 1. You are required to have a 1095 form proving you had health insurance (this is for everyone this year, not just people who get their insurance from the exchanges). Since you are probably still your parent's dependent and have your health insurance through them, you will need to have them make a copy of their 1095. However, the IRS has given insurance companies an extension on sending out the 1095s--until June, after taxes are due. So if you don't receive a 1095 before March 30, go ahead and file and write down your insurance company and the months you were covered (you have to be covered all 12 months or pay a fine) and attach it to your return.2. Attach a copy of your drivers license or state ID to the tax return. This requirement isn't for sure yet, but appears to be likely. It's especially important that you send your DL or ID number and the date of issuance and expiration. This is supposed to help the IRS combat all the return fraud they had last year. Also, since the IRS is trying to make sure they aren't being scammed it will take them longer to issue the refunds this year, probably more like 2 to 3 weeks, or possibly longer, it's hard to say.3. You must have a W-2 form. This is what used to be the only requirement for a teenager. This form will show all the gross wages you made and how much your employer took out in withholding, FICA (social security) and Medicare taxes. Since you are a minor, you probably don't pay FICA and Medicare yet, not until you turn 18. The only money you will get back will be a portion of your withholding, depending on how much you paid in in the first place.The main thing you need to remember when you file is, if you are still a dependent of your parents, on line 5 of the 1040EZ check the You box showing that someone claims you as a dependent. Here is a link to print out the 1040EZ form. https://www.irs.gov/pub/irs-dft/... . It's a draft, so it's just for practice. You should be able to follow fairly easily where to look on your W-2 and what lines to fill in. Good luck!
I worked in NYC on W2 for half of the year and moved to CA and started work as an independent contractor for another half. How should I file my taxes?
You will file part-year resident returns in both states in addition to your federal return.In California you'll file the 540NR (and associated forms/schedules)In New York you'll file the IT-203 (and associated forms/schedules)
What does it mean to work under a W2 contract?
It means you are not treated as an employee and do not get employee benefits.It also means you are “self-employed” for tax purposes, and must pay a “self-employment” tax that is about 6.5% of your income in addition to all the other taxes (income tax, social security tax, etc.)Being self-employed working on a contract also means you aren’t covered by “unemployment insurance” then the contract ends. And, your employer can end your employment at any time without notice or cause, unless you actually have a contract that includes fixed dates. Most don’t.For these reasons, your pay rate as a “W2” employee should be at least 50% higher than a comparable “W4” (full time) employee, and perhaps even higher.In recent years, companies have be using “contract” employees to cut expenses and avoid paying the “employment tax” - which funds unemployment insurance. Their tax rate will be especially high if they have a history of firing a lot of people. For this reason, the IRS has instituted a new rule that says *IF* you are working at a job full time under conditions similar to the full time employees, then you can demand to be treated as a full time W4 employee for tax purposes. This means the employer has to pay his share of taxes, not you. Contact the IRS for details.
Why does my federal tax refund decrease a lot when I enter my 2nd w2?
Here's an example.Say you made a total of $45,000 at your two jobs - $15,000 at the first and $30,000 at the second - and you had $1975 withheld at the first one and $3950 withheld at the second one (i.e. twice as much). You are single with no other dependents, taking a standard deduction and a personal exemption.When you enter in the first W-2, the system computes taxable income of $5500 ($15,000 - $5800 standard deduction - $3700 personal exemption) and tax due of $553. Your refund is $1422 ($1975 - $553).When you enter in the second W-2, the system computes taxable income of $35,500 ($45,000 - $5800 standard deduction - $3700 personal exemption) and tax due of $5006. Your refund is now $919 ($1975 + $3950 - $5006).What changed is where the system - Turbo Tax in this example - thinks you are in the IRS tax brackets. In the first example TT thinks that with your total income you are in the 10% bracket; once you add in the second W-2 you move up to the 15% bracket, and TT correctly increases the tax proportionately, so you owe relatively more and get relatively less back.Employers have a table that they use to determine how much to withhold - it's in IRS Publication 15, if you are interested, http://www.irs.gov/publications/... - based on pay period, your gross salary during that period, and the info you fill out on your W-4.
My former employer gave my W2 to someone else!?
I went to my former employer to get my W2 from last year. I worked for them for the first half of 2014. They didn't have my W2, and told me that my boyfriend came in a few months ago and they gave it to him. He says that never happened. Whether he's lying or not I'll deal with later, but right now I need my W2. They had no reason to give my W2 to anyone else! What can I do?
Will my tax returns decrease if I have had a significant salary increase but have only had the raise for the end of the year?
You pay taxes on your annual income. It doesn't matter if you made $1,000 in January and $100,000 in December or if you made $8,417/month, you'll pay taxes on $101,000. Your paycheck most likely withheld some taxes, however those are typically based on the tax bracket you would be in if you were paid that wage over the course of a year. Since you only worked half the year, you may fall into a lower tax bracket. You should have received a W2 from your employer recently that will indicate your annual taxable income. This is what is used to determine the taxes you owe. Check out online tax tools or consult a CPA for further information.
I make $9 and hour. I work 25 hours a week. How much will I have made in 2 weeks after taxes? I'm also 17 and this is my first job.
Depending where you live…$9 x 25 hrs = $225.00…you will gross $ 225.00. Your net will vary only your local taxes, but a rule of thumb is to expect approximately 33% to be withheld in taxes. Again, it does vary on your local taxes and also the number of exemptions that you claim on your W-2.So, based on the average deductions…$225.00 x 33% = $ 74.25. Expect to have $74.25 to be withheld from your paycheck for taxes (Fed, State, FICA, SSI), and net a big huge paycheck of $ 150.75.***************************************************Sure beats my first job….40 hours a week at $2.90/hr., as a lifeguard, in 1979!