The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Wages as a student worker||Date: 3/7/1998 7:59 PM|
|Author: JeanDavid||Number: 2486 of 125423|
<Are wages earned while attending college as a student worker taxable?>
Of course they are! Otherwise we'd spend the rest of our lives going to college to avoid taxes ;)
However, you *may not* have to file if you meet certain requirements. These are listed under (you guessed it) "Filing Requirements" in the instruction booklet for the 1040/1040A/1040EZ tax returns. Pick one up at the post office or library and look at it.
The basic rule is that no return is necessary if you had under $6800 in income as a single filer, or under $4150 of *earned* income if someone (your parents) claims you as a dependent >
The trouble is that unless your employer was breaking the law by failing to withhold income tax and social security and medicade insurance, you will need to file in order to get a refund, if they withheld more than necessary.
|Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|