Income less than $1200, subject to withhold?
My kid is going to work this summer, expecting to make less than $1200, so I'm understanding we don't have to report it to the IRS. What about W4, is this income subject to withhold?
My kid is going to work this summer, expecting to make less than $1200, so I'm understanding we don't have to report it to the IRS. What about W4, is this income subject to withhold?
Assuming he gets a W-2, he will owe neither Federal nor state taxes (unless he also has other types of income). On his W-4, have him claim a large number of allowances (such as 10) to avoid withholdings.
https://www.ftb.ca.gov/forms/2018-California-Tax-Rates-and-Exemptions.shtml#ifr
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