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You are here: Experts > Business > Corporate Law > Tax Law (Questions About Taxes) > Tax Liability
Expert: John Kirk, CPA
Date: 10/4/2008
Subject: Tax Liability
Question
Hi John,
I'm currently a college student and I work part time. I moved out of my house about 5 months ago and have been paying for everything by myself since then. Right now I'm getting taxed a lot on my payroll under FICA and FED TAX and I believe its because my W-4 form may have been filled out incorrectly. I requested for a new form yesterday and I was wondering if I can claim exemption from withholding for 2008 and I was wondering if I have any tax liability or not since I do not make more than $8,840/year.
Thank you so much!
Jessica
Answer
You can claim exempt from Federal withholding if you had no tax liability last year, and expect no liability this year. Assuming that you supply over half of your support this year, you can claim exemption from federal withholding taxes. You are not exempt from FICA taxes. For 2008 you need to make over $8950 in taxable income to be taxed.
John Kirk, CPA
www.johnkirkcpa.com
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