What determines taxes?

ChibiJosh

ChibiJosh

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I got my first grad student paycheck this morning. And, I noticed a friend of mine paid about $30 less in taxes than I did. I have no idea why because we have the exact same salary. So, I'm wondering if there are any other factors that may account for this difference.
 
You're friend is probably a minority.
/THREAD
:nottalking:

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J/k (.....:whistle2:s)
But check to see if it's a 0 or a 1 in the exemptions.
 
In the end it won't matter as you'll get more back as a tax refund or pay less in taxes on your 1040 - whatever the case may be. Except for the part where you're essentially giving the govt a tax free loan...
 
I was going to post a picture of my Federal Taxation Statute book, but I'm too lazy to go get my camera.

There are a number of things, but how you set up your exemptions is probably it.
 
[quote name='lilboo']You're friend is probably a minority.
/THREAD
:nottalking:

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J/k (.....:whistle2:s)
But check to see if it's a 0 or a 1 in the exemptions.[/quote]

Actually, he is Jewish.

My exemptions is 0 from what I can remember, and I imagine his is also zero. I mean, he actually lives with his parents so he's a dependent as far as I know.

I know it doesn't really matter because I think since I'm a student I get back all federal, but I was just curious.
 
[quote name='wubb']In the end it won't matter as you'll get more back as a tax refund or pay less in taxes on your 1040 - whatever the case may be. Except for the part where you're essentially giving the govt a tax free loan...[/quote]

Better the government than Gamestop m i rite?
 
They didn't take the right amount of taxes out of my paycheck either. I fixed it right away. I want to get a return come this Tax Season, not a bill.
 
If your being paid as workstudy, or as part of a graduate assistantship (stipend for working at least 20hrs) it may be a technical aspect of the funding source, (more fees, etc) plus there are sometimes small difference is he amount paid to students based on where the funding is (ex: State, Federal or private grants)

Another factor might be whether you or your friend full time residents of WV, since you in WVU? That may make a difference. $30 is not that much over 20hrs. (only $1.50/hr)
 
I can't confirm my affirmations, but I'd say that a random number generator is involved.

...well in Canada at least.

*in fact I just came in to say how awesome your sig is, Access_Denied*
 
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