Have a Tax Question? Ask a Tax Expert
Sorry to hear about our dilemma .. but there might be a way to handle it
Remember ... withholding is just that (It's not really a direct tax payment, it's a withholding AGAINST whatever you will end up owing, once you do your taxes, for that tax tax - the following April)
sorry for the typo ... do our taxes for that tax "year>"
SO, if it turns out that, with your dependency exemption, (plus your personal exemption and standard deduction) that you wouldn't have owned anything and it would have been refunded to you ANYWAY, you're just getting that money sooner rather than later...... .... NOW ...
If it turns out that you are making enough that you WOULD owe something, then you can use this little 1/w2 pahe voucher to send in the estimated payments yourself (essentially doing your OWN withholding): Form 1040-ES
"1/2/ page" voucher (just click on the link I provided)
I can use a model I have to project your taxes for 2013 to see if you need to worry about it either way, if you want to just estimate for me about what you'll make for the year
Let me know
I still don't see you coming into the chat session, so I'll move us to the "Q&A" mode. … Maybe that will help … (We can still continue a dialogue there, just not in real-time chat, as we can here)
Again, let me know,
Different expert here - Welcome. My name is XXXXX XXXXX it will be my pleasure to assist you with your tax question today.
It has been my experience that those of my clients who are paid in cash utilize Schedule C to report their income (your wages plus tips) for inclusion on their 1040. I make mention of this because you stated in your original question that you have 3 minor children, and it sounds like there is a very good possibility that you will qualify for both the child tax credit and earned income credit, which would alleviate any tax liability on your part. Rather, you would be receiving a refund.
My best advice to you would be to keep a detailed log of the dates and amounts of money that you receive.
Please let me know if you require further information or clarification on this.
Thank you and best regards,