|Charles Wilson, LLC | 307 S. Friendswood Dr, Ste B-2 | Friendswood, TX 77546 | 281-993-4530 | firstname.lastname@example.org|
IRS Offers Tips for Teenage Taxpayers with Summer Jobs
Students and teenagers often get summer jobs. This is a great way to earn extra spending money or to save for later.
Some workers are considered self-employed and
may be responsible for paying taxes directly to the IRS. One
way to do that is by making estimated tax payments during the
IRS Withholding Calculator tool on IRS.gov can help a taxpayer
fill out the form.
Keep good records on money
received and expenses paid related to the work. IRS rules may
allow some, if not all, costs associated with self-employment
to be deducted. A tax deduction generally reduces the taxes
taxpayer is self-employed, then Social Security and Medicare
taxes may still be due and are generally paid by the taxpayer,
in a timely manner.
If the taxpayer does not meet
those conditions, and are under age 18, they may be exempt
from Social Security and Medicare taxes.
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Hi everyone!! We've recently updated our business/fan page for our business.
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As always you can call our offices if you have any questions about these or any other accounting, tax, financial planning or Quickbooks related issues, at 281-993-4530.
Regards, Charles S. Wilson, CPA/CFF, CGMA, CBEC
Certified Public Accountant
Certified Business Exit Consultant
Charles S. Wilson, CPA/CFF, CGMA |
Charles Wilson, LLC | 307 S. Friendswood Dr, Ste B-2