How much % should I take off my pay for taxes?
I'm just out of school, and work multiple jobs, in Ontario Canada, I do personal training, and teach Yoga which i get paid for and get taxes on my pay cheques, but my third job which involves physiotherapy with the elderly and do not get taxes on, how much should i be taking off my pays cheques to set aside for tax time. I doubt i'll make over 40 000$ gross this year in total with all three jobs. Any information would be greatly appreciated.
Asked By: reheljoel - 1/24/2009
Best Answer - Chosen by Asker
This can get a little complicated because of the multiple jobs. Use the calculator in the link below, it can show the deductions owing on a single job... More
Answered By: quizzard123 - 1/24/2009
Additional Answers (2)
in the US you have to make a quarterly payment for any taxes you believe you will owe by the end of the tax year. If you miscalculate, there is some room for error in the first year, but in years after, you must pay at least as much as the previous years tax liability would have required. So, year one, you take your... More
Answered By: John M - 1/24/2009
You have to tell your employer that you have more than one job because they assume that your only income is with them and they deduct income tax according to the amount that is required by law. they allow for the personal amount that you don't pay tax on (9600$) for 2008. you are allowed this credit only ounce not for... More
Answered By: Joe S - 1/24/2009
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