Yes, but you still have to reach the minimum floor before you actually get any deduction for it.
That depends on which state you live in, as well as other variables such as gross income, number of exemptions claimed, local or municipal taxes, etc.
You should check with your employer as they would have all of the necessary information to determine the amount of taxes withheld state taxes. The percentage may vary, depending on your income and number of exemptions claimed.
I am going to assume that you are refering to your paycheck and that the IRS is not taking taxes out. This can happen when you don't make enough in a pay period that when calculated on a yearly basis, your income wouldn't be enough to owe taxes. Another way this can happen is if you claimed exempt on your W-4. Go to your employer and see how many deductions you claimed and then change your exemptions according to the instructions to have taxes taken out of your pay.
Your employer should be able to answer your question about the percentage of taxes that would have been withheld from your gross pay before the checks were printed and given to you. The percentage and amount varies depending on your income and exemptions claimed.
you will have to pay your own taxes not your parents.
The number of exemptions that you claim affects the amount of taxes that you will pay by lowering them. That is if the exemptions are claimed when you file your taxes. The more exemptions that you claim on your paycheck, the more you money you receive in your pay each week, rather than having more in your tax refund.
That depends on which state you live in, as well as other variables such as gross income, number of exemptions claimed, local or municipal taxes, etc.
You should check with your employer as they would have all of the necessary information to determine the amount of taxes withheld state taxes. The percentage may vary, depending on your income and number of exemptions claimed.
That depends on which state you live in, as well as other variables such as gross income, number of exemptions claimed, local or municipal taxes, etc.
I am going to assume that you are refering to your paycheck and that the IRS is not taking taxes out. This can happen when you don't make enough in a pay period that when calculated on a yearly basis, your income wouldn't be enough to owe taxes. Another way this can happen is if you claimed exempt on your W-4. Go to your employer and see how many deductions you claimed and then change your exemptions according to the instructions to have taxes taken out of your pay.
Your employer should be able to answer your question about the percentage of taxes that would have been withheld from your gross pay before the checks were printed and given to you. The percentage and amount varies depending on your income and exemptions claimed.
you will have to pay your own taxes not your parents.
The best way to learn which exemptions are legal to take on your taxes is to speak with a CPA. If this is not available to you there are several online sources including Turbo Tax and the IRS Government website.
Claimed 0 what?
If you were claimed by your grandmother on her income taxes that would classify you as a dependent.
For income tax purposes exemptions and deductions both decrease taxable income. Deductions are based on expenses actually paid, such as mortgage interest paid or charitable contributions. An exemption is an automatic dollar amount excluded from your income. In 2014, taxpayers get $3950 exemption for themselves, their spouses and each dependent claimed on their return.
If you're talking about taxes, the amount taken out is not usually a simple percentage, but depends on a number of factors including how many exemptions you claimed when you filled out your W-2 form and how much you make.