Taxes and working one day a week

[slackerinabox]

OK, so I don't have a lot of free time (full time student) and can only work one day a week at circuity city or best buy... I can't imagine it being worthwhile though- $8/hr (average job available)x8 hours=$64.. Minus taxes=about $40 or less. Is my math right or is it basically not worth it?

 

[blackdogdeek]

iirc, if you don't make enough money, you get all your taxes back.

 

[PlatinumGold]

Originally posted by: freedomsbeat212
OK, so I don't have a lot of free time (full time student) and can only work one day a week at circuity city or best buy... I can't imagine it being worthwhile though- $8/hr (average job available)x8 hours=$64.. Minus taxes=about $40 or less. Is my math right or is it basically not worth it?

if you earn less than what is it like $20k per year, then you can choose not to have ANY of your wages withheld for taxes.

 

[yobarman]

i work about 4 hours a week making $9 and i end up with 33 bucks. it's slow this season but if you claim a lot of dependents on your taxes not much will be taken off (there's some things college kids can do to avoid paying a lot of taxes)

 

[PlatinumGold]

Originally posted by: yobarman
i work about 4 hours a week making $9 and i end up with 33 bucks. it's slow this season but if you claim a lot of dependents on your taxes not much will be taken off (there's some things college kids can do to avoid paying a lot of taxes)

again, check with an accountant or Human resources, but if you show last years Income tax return and it shows no taxes due and you got a full refund, then you can choose NOT to have your taxes withheld, meaning they will pay you ALL of it.

 

[dquan97]

Let's see...over a year (rounded to the nearest dollar):

Gross income: $8x8hrs/weekx52weeks=$3,328

Deductions
FICA: ~7.5% = ($250)
Federal = Exempt (under standard deduction)
State = depends, but likely exempt

Net Income = $3,078/yr