We live in CA and my 13yo son earned $3850 on his job. He had 3 allowances on w4. He pd $1573.80 in taxes..why so much?

We live in CA and my 13yo son earned $3850 on his job. He had 3 allowances on w4. He pd $1573.80 in taxes..why so much?

Asked by 2010chloe 16 months ago Similar questions: live CA 13yo son earned $3850 job allowances w4 pd $1573 80 taxes Business > Accounting.

Similar questions: live CA 13yo son earned $3850 job allowances w4 pd $1573 80 taxes.

Lump sum payments are "large" payments and get withheld at a much larger rate. I experience the same thing whe I get paid overtime - it's like the payrate on a bonus which is annualized. My regular check, for a 1/2 month period has income tax withheld at the following rates: gross : 2458 federal : 11.81% state 1 : 4.41% state 2 : 5.83% Yet, my overtime checks, which are much smaller: gross : 191 federal : 25.06% state 1 : 6.02% state 2 : 7.77% If he is filing his own return, I suggest raising the deductions to 6 or 9, especially if he is unlikely to earn more than 15k / year..

1 too late in my night to dig deep into it, but my first thought would be that it's related to him being a deduction on your taxes. Other question is: is that the final income tax bill for the year, or is that the withholdings? $3850 gross, or take home?

Did he earn it in a short period of time? - the infernal revenue service does withholdings as if you were getting that size paycheck all year - ao if you make $500 a week for 10 weeks, your withhildings are lower than if you make $1000 a week for 5 weeks.

Too late in my night to dig deep into it, but my first thought would be that it's related to him being a deduction on your taxes. Other question is: is that the final income tax bill for the year, or is that the withholdings? $3850 gross, or take home?

Did he earn it in a short period of time? - the infernal revenue service does withholdings as if you were getting that size paycheck all year - ao if you make $500 a week for 10 weeks, your withhildings are lower than if you make $1000 a week for 5 weeks.

Then he probably will get a lot of the taxes back when he files his tax form next year. He'll pay FICA and SS and that's it.

2010chloe replied to post #1: 3 My son is a working actor and gets paid in lump sums. $3850 is gross and was for one job - 3 days of work. S salary depends on the job he does and is always different.

He doesn't work a steady work week every week - he only works when he books a job. It seems to me that they are deducting around 40% of his pay per job since he gets paid in a lump sum. It stinks because after all his pay outs (taxes, agent, manager, trust acct) he really doesn't end up with much in his pocket.

I think it's a great lesson for him to learn about money and taxes, I just wish there was a way I could keep more of it for him. My husband and I can't claim him on our taxes because he claims himself.

My son is a working actor and gets paid in lump sums. $3850 is gross and was for one job - 3 days of work. S salary depends on the job he does and is always different.

He doesn't work a steady work week every week - he only works when he books a job. It seems to me that they are deducting around 40% of his pay per job since he gets paid in a lump sum. It stinks because after all his pay outs (taxes, agent, manager, trust acct) he really doesn't end up with much in his pocket.

I think it's a great lesson for him to learn about money and taxes, I just wish there was a way I could keep more of it for him. My husband and I can't claim him on our taxes because he claims himself.

2010chloe replied to post #2: 4 He earned it at one job. He has made more than this amount this year.

He earned it at one job. He has made more than this amount this year.

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