I am Fifteen with a Part-Time Job - Taxes...?
So I am Fifteen years old, almost 16 (Saving for a car). I decided to get a part-time job at a grocery store. I have worked there for a little over a month, I am paid weekly. I am looking at the paystub that is attached to my check. I loose an average of 14% each paycheck for taxes. The TAXES AND DEDUCTIONS listed are: FICA-OASDI: $2.72 FEDERAL: $2.44 FICA-HI: $0.94 STATE PA: $1.99 PA UNEMPLOYMENT: $0.05 MANHEIM LA: $0.65 MISC. DEDUCTIONS: OPT/LST TAX: $1.00 This is out a paycheck that I earned $64.80 before taxes. I make $7.60 an hour. What are all of these different taxes? I thought minors didn't pay taxes? What are taxes exactly and what do I do during "Tax Season"? What is "Tax Season"? I Know it's a lot, but I am new to the workforce and I'm am confused. Thanks for your time.
Asked By: Kawasaki Ninja - 5/20/2011
Best Answer - Chosen by Asker
Answered By: StephenWeinstein - 5/21/2011
Additional Answers (4)
What made you think minors don't pay taxes? Depends on what you make, not how old you are... More
Answered By: Judy - 5/21/2011
There is no age limit in FICA taxes.
Answered By: Emil - 5/21/2011
those are all legitimate deductions to the workforce... More
Answered By: tro - 5/21/2011
The real world sucks kiddo; go to IRS.GOV and order a free Pub 17 or download one and read it from cover to cover. It will tell you everything you probably really don't want to know about taxes. I have three college degrees and have done tax work for forty years now and find the Pub 17 an excellent reference book... More
Answered By: acmeraven - 5/21/2011
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