Can some one help me understand Income Tax in New Jersey?
Can some one help me understand Income Tax in New Jersey?
Hello there, I want to get a summer job, but I'm having a mental war over here with all these questions. A bit of help please? At what age do you have to start paying? Do minors have to pay income tax? How long do you have to work at a certain place before you pay?
If there's anything else you think I might need to know about the whole system, I'd really appreciate some extra info. Thank you!
Answers:
Chosen Answer
shoredude2: There is no minimum or maximum age to pay taxes. There are one-year olds who are earning a good chunk of interest off inheritances that pay taxes. You can make up to $5,350 as a dependent of your parents and not pay federal income tax. You will have to pay Social Security and Medicare tax, no matter how much you earn while working. They may however withhold federal income tax from your check, which you would be entitled to a refund of any withholding over what you actually owed.
2008-02-18 10:03:34
shoredude2: There is no minimum or maximum age to pay taxes. There are one-year olds who are earning a good chunk of interest off inheritances that pay taxes. You can make up to $5,350 as a dependent of your parents and not pay federal income tax. You will have to pay Social Security and Medicare tax, no matter how much you earn while working. They may however withhold federal income tax from your check, which you would be entitled to a refund of any withholding over what you actually owed.
2008-02-18 10:03:34