How did i end up owing taxes

how did i end up owing taxes

Everyone who works for a legitimate employer has to fill out a tax form called a W-2. Be glad that you had to fill one out. If they don't have you. show more Everyone who works for a legitimate employer has to fill out a tax form called a W-2. Be glad that you had to fill one out. If they don't have you fill one out, leave immediately because that 'business' is illegal.

If you are married, your spouse is always counted as a dependent whether they work or not. Spouses are supposed to support each other. It's part of being married.

What will happen is that your employer will have to give a portion or percentage of your wages to the California and National governments for income taxes. If you earn more than a certain amount of money this year (how much changes from year to year and state to state), you may also have to pay some additional income taxes next April 15th.

It's a good idea to save as much as you can from each paycheck in some kind of savings account. Partly because you never know when you'll need a little extra money and partly because

you may wind up owing income taxes next spring. Since you live in California, which has a pretty high tax rate, it is likely that you will.

I recommend that you contact a tax preparer such as H&R Block or Jackson Hewlett to help you out with your taxes from this year. That way, they can help you find out how much you may or may not have to pay. You might even get a 'tax refund' if your employer and you pay more in taxes than you are required to by law over the course of this year. They don't charge very much, but they can save you a lot of hassle since the tax forms are not easy to fill out.

I hope that I wasn't rude to you. It's a good question that everybody who gets a job really needs an answer to.

By the way, it's rather pointless to ask people on Yahoo Answers to not be rude to you because some people on here are rude to askers no matter what you ask. You just have to be thick-skinned about it and not take anything people submit too personally.

John W · 5 years ago

Source: answers.yahoo.com

Category: Taxes

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