Welcome to Mommysavers Forums.
Go Back  

Money Matters Personal finance, managing debt, saving and investing

Register FAQ Members List Calendar Search Today's Posts Mark Forums Read Gallery iTrader

Reply
 
Thread Tools Display Modes

Old 08-13-2007, 02:41 PM   #11
Default Income tax info. on $3300
Karol
Senior Mommysavers Member & Approved Trader
 
Last Online: 09-28-2007 05:50 PM
Join Date: Jun 2007
Posts: 258
iTrader: (0)
If you make more than $3300 in a calendar year, your husband cannot claim you as a dependent. It is a deduction off your taxes of $3300 as taxable income. For 2007, if you are only working part-time for a few months, you probably won't make more than that.

What I stated was you need to take into account that your husband won't be able to claim you as a dependent once you earn $3300 in a calendar year. To explain further, more will either be taken from his check to cover income tax at a higher rate with you no longer being a deduction/dependent or more will be owed when your income is above $3300 in a calendar year when income tax forms are filed if you don't change his status.

All I meant to say was to make sure your part-time job earned enough (got enough hours) to be over this amount including the cost of additional transportation. A paycheck will show more than that, but what is lost on being a dependent with regards to income tax is something that most people don't factor in. This is important with a part-time job. If you know a bookkeeper, she or he can explain it to you.

However, in your situation, I believe you need the money NOW to get yourself out of a perpetual stressful financial existence. As I said in an ealier post, apply for a job, it is not a commitment. It sounds like the new boss would be fine. It sounds like you are willing to take the minimum wage when others weren't to get yourself on solid ground financially. Go apply. You have no decision to make unless you are actually offered a job.
Karol is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Members
 

Sponsors

 


Advertisement

All times are GMT -5. The time now is 06:03 PM.


Powered by vBulletin® Version 3.6.7
Copyright ©2000 - 2009, Jelsoft Enterprises Ltd.
SEO by vBSEO 3.0.0