can someone explain to me about W-2?

[snowmanzz13]

i have no idea what it is a this is the first time i've ever seen one.... forgive me as i'm only 17 lol

[Young Gun]

Isn't this for taxes?

Goodluck with that boring stuff!

[backinsaddle]

It's a statement your employer gives you for the prior year worked.  You base your work related income taxes off the numbers on your W-2.  They are required to provide to you by Jan 31 of each year.

[snowmanzz13]

okay, so what does all that mean? lol

[yfz450runner]

W 2  are for tax purposes. everywhere you worked last year will send you one. take them and any recipts for big ticket items ( quad, car etc)  recipts are for the amount of tax you spent last year.  take it to a tax prep place and they will guide you in filling a return. hope this helps

[renmus]

W 2  are for tax purposes. everywhere you worked last year will send you one. take them and any recipts for big ticket items ( quad, car etc)  recipts are for the amount of tax you spent last year.  take it to a tax prep place and they will guide you in filling a return. hope this helps

NO NO NO.  If you are only 17, then your parents are probably claiming you as a dependent on taxes.  DO NOT go to a tax place that is not aware of your whole family information.  That could cause a mess for your parents and you would probably regret the $40-75 they charge.

[AmericanRobster]

W 2  are for tax purposes. everywhere you worked last year will send you one. take them and any recipts for big ticket items ( quad, car etc)  recipts are for the amount of tax you spent last year.  take it to a tax prep place and they will guide you in filling a return. hope this helps

NO NO NO.  If you are only 17, then your parents are probably claiming you as a dependent on taxes.  DO NOT go to a tax place that is not aware of your whole family information.  That could cause a mess for your parents and you would probably regret the $40-75 they charge.

Very true. I am waiting until I can get to my ex g/fs house to get my possessions so I can file my taxes next weekend.

[Anoriginal]

A W-2 is something you love when you're younger or not making a lot of money. It usually means it's tax time and you'll be getting a big fat check back from the government. Later in life, you probably won't get a W-2 (depending on your employment arrangements) and  tax time sucks because the estimated taxes you've paid four times in the past year isn't quite enough to cover your income. So, you are the one stroking a big fat check to the government.