conversation: User (JSlasha88): "Excuse my extreme financial ignorance here, but I have a tax question. In a nutshell, it is: do I HAVE to lose 15% of my paycheck every two weeks to taxes?\n\n**About me**: 24-year-old, four-year-degree, can't find a full-time job, and instead am working two part-time jobs at minimum wage and taking home maybe 1000-1200/month. Living on my own, I'm obviously not saving much money at all.\n\nI guess it's just really depressing when I know my "wage" is say $8/hour but I'm really only taking home $6.80 an hour. I've talked to my dad about this, and he says to not worry about it since he says I'll get a big federal return next year. The problem is, I can't remember ever getting a federal tax return in the past, only a state one worth like $20.\n\nHow can I keep more of my money? My dad says "you don't want to end up OWING the IRS come tax time - it's better to let them give you a big return." Well that's all well and good, but I've never gotten a return that I can remember. Is this because he has claimed me as a dependent? (something he says he can't do this year). \n\nI love my parents and I know my dad is not out to scam me...but I just need to know more about what I'm dealing with here. Is there a way I can keep a little more money per paycheck and live less stressed month-to-month? Do I have to re-fill out some W- forms? If so, what do I need to do differently on them?\n\nThanks"
  Self: "&gt; do I HAVE to lose 15% of my paycheck every two weeks to taxes?\n\nIt might be splitting hairs, but the fact that you said "15% every two weeks" makes me think you might not have a solid grasp on some of the concepts involved. 15% is 15%, and it doesn't need a time period qualifier."
  Sarudin (Sarudin): "I don't think you have a very good understand of how tax withholding works because this is a valid way to put it.\n\nAlthough OP doesn't know it, he's not going to reach the 15% tax bracket this year. He's not even going to reach the 10% bracket for 83% of his income!\n\nSo, does he pay 10% a paycheck? No, he pays 10% a paycheck for about 9 weeks out of the year and the rest he will owe nothing."
  