I'm a full time college student and would like to know if I'm tax exempt?
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I work at shoprite and make about 8.00 an hour. Taxes take about 40 dollars each check. It may not seem like a lot but it is when your only making $400 every two weeks. So could being a full time college student make me tax exempt?
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Answer:
Let's see $200 a week. If you expect to work more than 29 weeks this year (more than $5800 gross), your income will be too high to be exempt. Taxes start at $5800 and 10%. Even if you expect to make less, you are still subject to fica/mc taxes.
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Other answers
Being a full time college student does NOT make you exempt.
Hmm...I don't fully know your situation but as far as I know, No your not. There are some tax offices(H&R Block)&(Jackson hewit) who count you as a college student and get you more money during taxes return :) Just let them know your situation and their help you get more money back for school. I hope this helps. P.s There are some other tax return offices that do it too but those are the only ones I'm femilar with. Peace.
students are not tax exempt it is possible you can file your W-4 as exempt if you do not anticipate earning $5800 for 2011, and you had no income tax liability the previous year
No, if you're making $9600 a year, you'll owe taxes. Unless you're supporting yourself and your child, or if you're married and your spouse doesn't work.
you may claim student exempt if your total earnings for the year will be less than the single standard deduction and one exemption. no taxes withheld. if you claim 0 or 1 taxes are taken out. but you will get a refund. that is forced savings. that is your choice: do you want a few bucks in your pocket to pay for your expenses, or will you do without waiting for the big bang check in April?
It is never a very smart thing to claim that you are exempt from the withholding of the federal income tax amount unless you REALLY legally qualify to do so which is not for every one to do. And when you do claim that you are exempt from the FIT $ amount and then your correctly complete your 1040 income tax return in the next tax year filing season in after the the end of the tax year 2011 in the 2012 tax filing season and you do NOT have any $$$ amount of FIT withheld that would be reported to you in the Box 2 of your W-2 as a $$ amount of FIT as an estimated advance payment of your possible federal income tax liability and that you would get a credit for this $$$ amount on your correctly completed 2011 income tax return and you might qualify to get some or all of the $$$ amount as REFUND INSTEAD of the possibility of maybe having a federal income liability and having to send a $$$ payment amount to the IRS in the year 2012 when you sign the correctly completed income tax return and print your copy for your records and then send the signed copy to the correct IRS address for this purpose. Simple and easy fill out the W-4 Single and -0- ZERO sign it and return the signed W-4 to your employer. Hope that you find the above enclosed information useful. 07/20/2011
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