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am0rningview
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Joined: 10 Mar 2011
Online Status: Offline
Posts: 37

Posted: 05 Apr 2011 at 20:51 \| IP Logged

I currently work 6-8 hours per week as a teaching
assistant at my University. I plan on doing this for the
rest of the semester (until mid May) and possibly next
semester (September - December). I make 8 dollars an hour
and I'm claimed as a dependent on my parent's tax return.
When I filled out my W-4 back in January, I believe I
entered "1" on line 5 for my withholding allowance. So
far, they haven't withheld any taxes from my paychecks. I
think I'm except from FICA taxes as a student employee,
but they haven't withheld any federal taxes either. In
fact, it says "exempt from federal taxable wages" on my
pay stubs. I don't understand why this is?

Also, I just accepted a position for a summer internship,
running from the end of May until mid August. I don't
know what I should enter for my withholding allowance on
the W-4 for this job. Should I enter "1" again? Should I
have claimed "0" for both jobs? I'll probably earn more
than $5,700 combined for these two jobs. If I claim "0"
for the internship, will I be okay? I don't want to owe
taxes at the end of the year. Would I be able to contact
the school to check what I actually entered on my W-4 and
change it to "0" if need be? Any advice is appreciated.

zyzzx
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Joined: 12 May 2011
Online Status: Offline
Posts: 2

Posted: 12 May 2011 at 01:18 \| IP Logged

First paragraph question - they should be withholding some fed tax so you need to contact payroll and ask them why nothing being withheld.

Since you are claimed as a dependent by your parents that means THEY get to use your personal exemption and you don't. So zero is the number.

And yes you can always change the W-4, they will just have you fill out a new one and that will supersede the original one. DO THIS NOW before more pay is undertaxed.

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zyzzx

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