AboutHelen P. O`Planick, EA Expertise I am a tax professional, with experience in individual taxation. I would prefer not to answer questions about non-resident aliens or corporate taxation. Please do not ask me state related questions, unless the state is Pennsylvania. There are 42 taxing states and 42 TOTALLY different sets of state tax law.
Experience I have been preparing tax returns almost all my life. I have been in professional practice for 25 years and I am enrolled to practice before the Internal Revenue Service.
Organizations National Association of Enrolled Agents
Publications I am a prior Money Magazine Tax Test taker and have been quoted extensively in all media including monthly periodicals and books by tax authorities.
Question hi, i am currently working on a job. i made like $20k a year sometime less. i was thinking of getting a second job as part time in the weekend. i am projecting i will get about $5000 on that job for the whole year. in my first job pay check, i have to pay payroll taxes(federal, ss, medicare, state,etc).
now if i get this second job which will make $5000 a year i would only have to pay SS and medicare so i heard.
at the end of the year my combine income will be $25K. when i combine both income, do i have to pay taxes since now it went up from $20k to 25k and probably a higher bracket?
Answer You can have withholding at your second job if you want. Use the form W-4. If you do not, you may owe at the end of the year. What you should do is take your 2007 return, add in $5,000 of income and see what the tax will be. If the withholding from the first job covers it, you will be okay. If not, you either want to have more withheld from job one or some withholding from job two.
