Contact UsI'm a Chemical Engineering student at UW Madison and doing a co-op in Michigan. Will I be paying MI taxes AND WI taxes? What's a rough estimate of my tax bracket or how much I will owe to the government if I work for 7 months and get paid $20/hr if my parents claim me still.
My parents file as "Married Filing Jointly" but my mom doesn't work and it's only my father. He makes about 50,000/year
Darren Sanford
Did your parents provide over half of your total support. Total support would include your income, the amount of any money they gave you and/or paid on your behalf and the value of housing, food, etc. which they provided. In order for them to claim you, they must have provided OVER HALF of your support. That is the first issue we need to resolve in order to determine your tax.
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585 weeks ago
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Tax Professional Answers
Dan Selner
Full time (40 hours per week) at about 30 weeks would give you $24,000 in income.
Assuming standard deductions and that you are a dependent of your parents (which may NOT be the case, based on this income), I estimate your federal tax of about $2000 and state income of about $1000. Rough estimate.
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585 weeks ago
Assuming standard deductions and that you are a dependent of your parents (which may NOT be the case, based on this income), I estimate your federal tax of about $2000 and state income of about $1000. Rough estimate.
Kat Jennings, CEO
Thank you Dan for helping this student out. It is people like you that inspired me to build TaxConnections. The Tax Professionals on this site are amazingly giving of their tax expertise. Five Stars for you from TaxConnections CEO.
Kat Jennings, CEO at TaxConnections
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585 weeks ago
Kat Jennings, CEO at TaxConnections