tabby08
Aug 19, 2008, 08:15 PM
Hi, I would Just like to know how i pay for tax as i am starting a new job as a nanny
tabby08 Aug 19, 2008, 08:15 PM Hi, I would Just like to know how i pay for tax as i am starting a new job as a nanny N0help4u Aug 19, 2008, 08:20 PM What country are you in? Will you be working as self employed? What do you expect to earn in a year? Are you a teen? hkstroud Aug 19, 2008, 08:25 PM You file a quarterly estimated income tax if employer does not with hold. Must also pay Social Security tax. tabby08 Aug 19, 2008, 08:45 PM Hi, I would Just like to know how i pay for tax as i am starting a new job as a nanny i live in Australia, yes i will be working as self employed and am not shore what i expect to earn in a year and im 20yrs old N0help4u Aug 19, 2008, 08:50 PM These might help TR 98/1 - Income tax: determination of income; receipts versus earnings (As at 14 January 1998) (http://law.ato.gov.au/atolaw/view.htm?docid=TXR/TR981/NAT/ATO/00001) Tax - australia.gov.au (http://www.australia.gov.au/Tax) MukatA Aug 19, 2008, 10:49 PM AtlantaTaxExpert Aug 20, 2008, 07:25 AM Assuming that you are qorking under an "E" visa, you will be liable for federal and state INCOME taxes and the self-employment tax (at 15.3%). Realistically, you should expect to pay about 25% total in taxes to the IRS and the state. While quarterly estimated tax payments are NOT required in the first year, you WILL have to pay these taxes come 15 April 2009, so be sure to put 25% of each paycheck aside into a bank account so you HAVE THE MONEY come tax time. Once you have filed your first tax return, you then have the legal requirement to file the quarterly tax payments, which are due on 15 April 2009, 15 June 2009, 15 September 2009 and 15 January 2010 for Calendar Year 2009. Copyright ©2005-, Ask Me Help Desk
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