look how much money I made in 2006

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May 16, 2000
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Originally posted by: Wreckem
Originally posted by: PrinceofWands
No biggie, I've had a few years that low. This year was around 10k too, but with my grants and scholarships it goes up almost 20k. On the good side you'll pay no taxes. In fact, I've only had to pay taxes 3 years in my entire life.

Grants are not treated as taxable income. Scholarship money used for tuition and books is also not treated as taxable income. However any scholarship money spent on living expenses is taxable.

Say your tution came to $4000 a semester, your books came to $1000 a semester.

Further add, you had the standard $4050 in grants for the year. Say you had a $7500 scholarship. Total tution plus books $10000-4050 in grants = 5950. So 7500-5950=1550 which is what would be considered taxable income.

Unless you have a large scholarship you should be able to claim it all went towards tuition and books. The way I have worked it is grants + scholarships paid for tution and books and students loans paid for the living expenses.

Yeah I basically never owe anything. I'm going to be very confused when I start teaching and suddenly have to pay at the end of every year.
 

animalia

Banned
Dec 15, 2006
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Originally posted by: Wreckem
Originally posted by: animalia
Originally posted by: Wreckem
Originally posted by: animalia
ok, so the job i made 5713 at has no fed income tax withheld and no earned income credit.

does this mean I don't have to file for these earnings? Can I file with the job I made 2703 at. this one DOES have income tax withheld

Fill out the tax form, 1040ez and add the two totals together. Not filing the one will make the government think your trying to hide something even though you are not.

all right thanks. will I have to pay something for the job I made 5713 at?

No. Well that depends, can your parents claim you as a dependent? IE, were you enrolled in college during the fall semester?

yeah, my mother claims me as a dependent. what does this mean? I DO have to pay
 

Wreckem

Diamond Member
Sep 23, 2006
9,458
987
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Originally posted by: animalia
Originally posted by: Wreckem
Originally posted by: animalia
Originally posted by: Wreckem
Originally posted by: animalia
ok, so the job i made 5713 at has no fed income tax withheld and no earned income credit.

does this mean I don't have to file for these earnings? Can I file with the job I made 2703 at. this one DOES have income tax withheld

Fill out the tax form, 1040ez and add the two totals together. Not filing the one will make the government think your trying to hide something even though you are not.

all right thanks. will I have to pay something for the job I made 5713 at?

No. Well that depends, can your parents claim you as a dependent? IE, were you enrolled in college during the fall semester?

yeah, my mother claims me as a dependent. what does this mean? I DO have to pay

Edit: You'll be able to take a deduction of $5150. So you probably wont owe anything, but you wont be getting anything else back either. Based on your income and the decution, your tax liabilities are $328. If $328 wasnt witheld from the $2703, you will owe the remainder of it.
 

TraumaRN

Diamond Member
Jun 5, 2005
6,893
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I'll be sad after this year cuz I graduate college and suddenly I'll owe more on my taxes. Haven't gotten my official wage statement from work yet but just working part time while going to college full-time I pulled in about $22,000 before taxes. Should be able to get a big chunk of it back tho thanks to being a student and all that.
 
Dec 4, 2002
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Originally posted by: animalia
Originally posted by: Mike
Hopefully you won't stay at that job very long. Not claiming everything for a long period of time will fvck you over in the long run.

i don't get it

If you need a loan down the road. The fact that uncle Sam thinks you made less then 10 Gs a year for a half of a decade will fvck you over a bit.
 

animalia

Banned
Dec 15, 2006
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how the hell do I do this. I am trying to efile and it won't give me an option to put two emplyer ID numbers in. I feel like if I put in the ID number of the one with less earnings, and then state I made 8417 dollars but only 271 was withheld (the amount withheld from eomployer with which I had less earnings) the IRS will freak out and say I owe a ****** ton of money
 

Wreckem

Diamond Member
Sep 23, 2006
9,458
987
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Originally posted by: animalia
how the hell do I do this. I am trying to efile and it won't give me an option to put two emplyer ID numbers in. I feel like if I put in the ID number of the one with less earnings, and then state I made 8417 dollars but only 271 was withheld (the amount withheld from eomployer with which I had less earnings) the IRS will freak out and say I owe a ****** ton of money

Im not sure how you eFile. But it does look like you owe some money. It looks like you will end up owing $57.
 

animalia

Banned
Dec 15, 2006
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update: thanks everyone, especially Wreckem. You were exactly right. I owe Uncle Sam 57 dollars and the great state of maine will be giving me 40 dollars, for a net loss of only 17 bucks. I just finished the e-file. I figured out how to do it. All I had to do was file two W-2 forms for each employer. now they gave me the choice of signing electronically with a PIN or mailing a signature in. I chose the PIN option to get it done. Only catch was you had to state your 2005 AGI, which I remembered was 6000.
 
May 16, 2000
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Originally posted by: Mike
Originally posted by: animalia
Originally posted by: Mike
Hopefully you won't stay at that job very long. Not claiming everything for a long period of time will fvck you over in the long run.

i don't get it

If you need a loan down the road. The fact that uncle Sam thinks you made less then 10 Gs a year for a half of a decade will fvck you over a bit.

*shrug* Never been a problem for me.
 

Tobolo

Diamond Member
Aug 17, 2005
3,699
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Originally posted by: animalia
Originally posted by: Mike
Hopefully you won't stay at that job very long. Not claiming everything for a long period of time will fvck you over in the long run.

i don't get it

They are still accusing you of not reporting tips.
 

BoomerD

No Lifer
Feb 26, 2006
62,679
11,023
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I haven't had to file taxes since the 03 tax year. Workers Compensation disability is 100% tax-free. The down side to that, is not being able to take any of my deductions, (mortgage interest, etc.),
 

BoomerD

No Lifer
Feb 26, 2006
62,679
11,023
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Originally posted by: animalia
Originally posted by: j00fek
time for a real job

it's hard without a college education, which is what I am in the middle of getting

That depends on what you consider a "real job"...I averaged $80K over the last 10 years I worked, and dropped out of HS in my sophmore year. (yeah, I have a GED, but still...) granted, it's not some "clean cushy office job) but rather heavy construction, getting dirty as hell, and working outside in all weather, but the money and benefits were great.
 

animalia

Banned
Dec 15, 2006
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yeah there are always exceptions like construction and firefighters. to be a paramedic, you kind of need some education. (1 semester for emt-b. 6 months experience. 5 semesters for an associates) Granted, you don't need an associates, but it's a good idea.
 

jumpr

Golden Member
Jan 2, 2006
1,045
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Originally posted by: Wreckem
Originally posted by: animalia
Originally posted by: Wreckem
Originally posted by: animalia
Originally posted by: Wreckem
Originally posted by: animalia
ok, so the job i made 5713 at has no fed income tax withheld and no earned income credit.

does this mean I don't have to file for these earnings? Can I file with the job I made 2703 at. this one DOES have income tax withheld

Fill out the tax form, 1040ez and add the two totals together. Not filing the one will make the government think your trying to hide something even though you are not.

all right thanks. will I have to pay something for the job I made 5713 at?

No. Well that depends, can your parents claim you as a dependent? IE, were you enrolled in college during the fall semester?

yeah, my mother claims me as a dependent. what does this mean? I DO have to pay

Edit: You'll be able to take a deduction of $5150. So you probably wont owe anything, but you wont be getting anything else back either. Based on your income and the decution, your tax liabilities are $328. If $328 wasnt witheld from the $2703, you will owe the remainder of it.
Woah...what?! I'm looking at Form 1040 right now, and it says that the standard deduction for a single person who cannot be claimed as a dependent is $5150. Where are you getting this $8450 figure?

EDIT: okay, you're mixed up. The filing requirement is $8450 (i.e., if you made less than $8450 you don't have to file a return). The standard deduction is definitely $5150 for single people. Don't confuse standard deduction with filing requirements. :)
 

BoomerD

No Lifer
Feb 26, 2006
62,679
11,023
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I DID spend about 4 years in a union apprenticeship in the early years, with classes every winter, but no FORMAL edumakation...fixing that now...I'm on vocational rehabilitation for a serious work related injury.
 

pontifex

Lifer
Dec 5, 2000
43,806
46
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/waits for the people coming in to boast about their earnings or to bash the op for making so little.

or am i too late? i will admit i didn't read the entire thread
 

Koing

Elite Member <br> Super Moderator<br> Health and F
Oct 11, 2000
17,090
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Apprently £8k ~ $15k isn't enough for some guys I know...I certainly don't earn that much!

Koing
 
May 16, 2000
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Originally posted by: animalia
yeah there are always exceptions like construction and firefighters. to be a paramedic, you kind of need some education. (1 semester for emt-b. 6 months experience. 5 semesters for an associates) Granted, you don't need an associates, but it's a good idea.

What's sad about that is that I made more when I was doing security than the paramedics made. Most were getting paid just a couple bucks over minimum wage here.
 

animalia

Banned
Dec 15, 2006
792
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Originally posted by: PrinceofWands
Originally posted by: animalia
yeah there are always exceptions like construction and firefighters. to be a paramedic, you kind of need some education. (1 semester for emt-b. 6 months experience. 5 semesters for an associates) Granted, you don't need an associates, but it's a good idea.

What's sad about that is that I made more when I was doing security than the paramedics made. Most were getting paid just a couple bucks over minimum wage here.


well emt-basics make the least. emt-paramedics make the most. all are emt's but emt-p is the highest level. you are probably thinking of the basics



emt-b pay in maine

search for paramedic in 04101 and you will see they make more. search your zip code too. search for emt or paramedic. most people don't realize that paramedics are emt's too (just the highest level).
 
May 16, 2000
13,526
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Originally posted by: animalia
Originally posted by: PrinceofWands
Originally posted by: animalia
yeah there are always exceptions like construction and firefighters. to be a paramedic, you kind of need some education. (1 semester for emt-b. 6 months experience. 5 semesters for an associates) Granted, you don't need an associates, but it's a good idea.

What's sad about that is that I made more when I was doing security than the paramedics made. Most were getting paid just a couple bucks over minimum wage here.


well emt-basics make the least. emt-paramedics make the most. all are emt's but emt-p is the highest level. you are probably thinking of the basics

<a target=_blank class=ftalternatingbarlinklarge href="http://
<b"><b"><b"><b">EMT-Paramedic pay in Maine">h...dateoptin=&isnewsoptin=&choosesignup=0</a>


Brooklyn EMT-P pay

emt-b pay in maine

Talking about the peeps that worked ambulences in Vancouver Washington. In about 1998 or so they were making $8.50/hr. Turnover was INSANE so it was a frequent topic in the ER. The techs in the ER made pretty good change, but not the ambulence crews.

I hope it's changed since then, because they were horribly underpaid for what they did.
 

animalia

Banned
Dec 15, 2006
792
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yeah, okay. cool. I know it's low paying, but emt-paramedic is a liveable career. I'm not doing it for the money.