I’m not asking for the advice of a CPA on filling out my taxes, so any admonitions to get such are unneccesary.
Here’s the deal. I work a FT job and a PT job. I made right under 30K @ the FT, and right under $1300 at the PT. W-2s show around 4K taken out for Fed taxes from FT, but only $29 from the PT. My question is, how much will I get dinged for the PT?
We interrupt this thread to increase
dramatic tension.
Not knowing your filing status or deductions status your refund will be reduced by between $195 - $364 due to the PT job. If you are not getting a refund you will pay more by this amount.
FYI if you don’t want to pay taxes on this PT job in the future claim zero on your W-4… this will reduce your take pay though.
At each job, they treat it as your only job, so both think you get standard deductions, etc that apply to the wages that they pay you.
At the PT job, they basically did not take much withholdings because, based solely on their wages, you would owe little if any tax.
But you had another job which paid you enough to owe taxes. You will owe taxes on the $1300 at whatever your tax rate is [look in the IRS book]. If it’s 15%, you would owe $195.