Submitted 317 days ago...
Answer 1 / 2
Submitted 317 days ago...
You will still have to pay taxes on what you make deducting those that you can.
In my experience with the w-2 and all that, those just take out taxes from your weekly/biweekly/monthly paychecks and sends it off to the IRS. When you your tax form at the end of the year, it says how many money you already paid in taxes.
What determines if you get a refund or not, is if the amount that you paid in taxes during the year, is more then what you need to pay based on the total you made in the year and the number of deductions and everything else on the tax form.
If you don't pay enough during the year to meet that number, then you will owe taxes.
Back to your original question. I've never claimed exempt. Are you not taking any money out for taxes of your paychecks? if you aren't' then there is a good chance that you will owe the IRS money at the end of the year.
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Submitted 137 days ago...
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If taxes go towards something you are morally opposed to like the war or animal testing, can you have your taxes NOT go toward those things?
I lost my taxes from last year, how can I request a copy?
I have been contracting with several companies. A couple want to use a w-2 instead of a 1099, how much money should you make before they have to file?
