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They can but would not benifit them. They would owe tax.
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What are the three taxes taken form your paycheck?
It will depend on where you reside as to what taxes are withheld. Federal Withholding taxes, FICA taxes, and Medicare taxes are the federal taxes that are withheld. Most people will also be effected by State taxes and some will even have to pay city or county income taxes along with the other taxes.
What if you have no money to pay your taxes?
You are legally required to pay taxes. Taxes are only due on money you have earned therefore if you owe taxes you have had the money. If you do not pay the taxes you owe you will be sent to court and made to pay - even if you go to prison you will still owe the tax man.
Can you file federal taxes when no taxes were withheld from your check?
Absolutely; even the unemployed can file income tax returns. Employment is not the only source of income - you could have investment income, interest payments on bank accounts, social assistance payments, pensions, etc. And even if you have no income at all, you can still file an income tax return. Sometimes it makes sense to do so - for example, there may be a renters' credit for which you are eligible, that will actually be paid to you, despite the fact that no income was withheld.
How much money is taken out of your paycheck for taxes if you're single and in Florida?
There are several different prescribed and allowed methods for calculating withholding...projecting an annualization of the income for example. The withholding rate applied then depends on that calculation, and your specific claimed deductions/exemptions, etc., as well as other factors that may be effected by your State or even City or employment. (As well as what you consider taxes...many things, like unemployment, FICA, etc while deducted from you pay are considered whatever just according to your personal definition).The amount you will ultimately pay doesn't change by how much is withheld....and you can determine and direct how much is to be withheld. (But, if you don't have enough withheld, you may become subject to an underpayment penalty and interest).You should talk to the payroll area and they can tell you exactly how and why it is calculated as it is. You may want/need more or less withheld and they can (must) accomadate.
If you get paid under the table how do you claim the money on your taxes?
Yes, you are supposed to claim any money received to the IRS. Even if you get paid cash, the IRS wants their money.
What are the three taxes taken form your paycheck?
It will depend on where you reside as to what taxes are withheld. Federal Withholding taxes, FICA taxes, and Medicare taxes are the federal taxes that are withheld. Most people will also be effected by State taxes and some will even have to pay city or county income taxes along with the other taxes.
What two numbers do i add together to find out my tax return?
You seem really lost. Do you mean tax REFUND? If that's what you're looking for you need to SUBTRACT the tax you owe from the taxes you have had withheld over the calendar year. Of course, if the tax you owe is larger than the taxes you have had withheld, you need to send more money to the IRS and maybe even pay a penalty charge.
What if you have no money to pay your taxes?
You are legally required to pay taxes. Taxes are only due on money you have earned therefore if you owe taxes you have had the money. If you do not pay the taxes you owe you will be sent to court and made to pay - even if you go to prison you will still owe the tax man.
How much are taxes on a car for an even trade in South Carolina?
allot of money
Do you need to file an income tax return if you earned 5489.86?
Yes this is very possible. The type of earned income your filing status and even a possible refund of any withheld income taxes.
Can you file federal taxes when no taxes were withheld from your check?
Absolutely; even the unemployed can file income tax returns. Employment is not the only source of income - you could have investment income, interest payments on bank accounts, social assistance payments, pensions, etc. And even if you have no income at all, you can still file an income tax return. Sometimes it makes sense to do so - for example, there may be a renters' credit for which you are eligible, that will actually be paid to you, despite the fact that no income was withheld.
Do you need to pay taxes if your business is losing money?
Yes, even if your company is failing you still need to pay taxes. Unfortunately, everyone is required to pay taxes despite debt.
Why might you want to file a federal tax return even when you don't owe taxes?
If you worked, you may have had money withheld from your paycheck. This means that although you may not have earned enough money to be required to file a tax return, filing the return may result in a refund that the IRS will pay you. You may also qualify for refundable credits like the Earned Income Credit that can be refunded to you. So, sometimes it is in your interest to file a return even if you are not required to do so.
How much money is taken out of your paycheck for taxes if you're single and in Florida?
There are several different prescribed and allowed methods for calculating withholding...projecting an annualization of the income for example. The withholding rate applied then depends on that calculation, and your specific claimed deductions/exemptions, etc., as well as other factors that may be effected by your State or even City or employment. (As well as what you consider taxes...many things, like unemployment, FICA, etc while deducted from you pay are considered whatever just according to your personal definition).The amount you will ultimately pay doesn't change by how much is withheld....and you can determine and direct how much is to be withheld. (But, if you don't have enough withheld, you may become subject to an underpayment penalty and interest).You should talk to the payroll area and they can tell you exactly how and why it is calculated as it is. You may want/need more or less withheld and they can (must) accomadate.
Can you discharge unpaid payroll taxes in bankruptcy?
Some debts, such as taxes (including payroll taxes, most student loans and unpaid wages) are not forgiven in bankruptcy even if you file, and will not be discharged even if you are given bankruptcy relief of your other debts. And being in arrears in taxes may bar you from getting any bankruptcy relief at all . Talk to an attorney as soon as possible.
If you get paid under the table how do you claim the money on your taxes?
Yes, you are supposed to claim any money received to the IRS. Even if you get paid cash, the IRS wants their money.
Do you pay taxes on a 1099?
What is the minium amount of money for not paying taxes with a 1099? Does everyone pay regardless if they earn 5,000.00 or 15,000.00 even acting a an independent contractor.
