Online Tax Filing Blog

The Official Blog of Tax Software


Summer Tax Tips for Students

Summer Tax Tips For Students

Summer is here and that means sun, fun and work. That’s right, work. Last summer nearly 20 million students 16-24 held jobs during the summer months. Summer jobs are a great way to learn responsibility and get an introduction to valuable life lessons like filing taxes. Generally students must file taxes on their income earned during the summer and here are some tips to keep in mind.

1.       As a new employee, you’ll need to fill out a W-4 Form also known as an Employee’s Withholding Allowance Certificate. It’s important to complete this form correctly so your employer withholds the right amount of taxes.

2.       All tips you receive are taxable. If you receive $20 or more in cash tips in any one month, you must report the tips for that month to your employer.

3.       Self-employment jobs such as mowing the lawn, babysitting, or designing websites are subject to income tax. However, you may deduct businesses expenses for these types of jobs when you file your taxes. For example, if you mowed lawns for the summer and you bought a lawn mower for this sole purpose, you may deduct the cost of the lawn mower. It is important to keep an accurate record of any planned deductions.

4.      If your self-employment earnings are more than $400 you are required to file a tax return. In some cases you may not make enough to owe income tax, however you will most likely have to pay Social Security and Medicare taxes.

5.       There are very few exceptions to earning income that would be nontaxable.  For example, if you are in ROTC (Reserve Officers’ Training Corps), your active duty pay, such as pay received during summer camp, is taxable. However, the food and lodging allowances you receive in advanced training are not.

6.       If you are a newspaper carrier or distributor, special rules apply to your income. No matter your age, you are treated as self-employed for federal tax purposes if:        

You are in the business of delivering newspapers.

Substantially all your pay for these services directly relates to sales rather than to the number of hours worked.

You work under a written contract that states the employer will not treat you as an employee for federal tax purposes.


Note: For Bullet 6, if you do not meet these conditions and you are under age 18, then you are usually exempt from Social Security and Medicare tax.

Comments are closed
Copyright © 2013 TaxSlayer LLC | 706-922-6741 | 3003 Allen Drive Evans, GA 30809
© 2013 Refund distribution subject to IRS acceptance of return & University National Bank. *IRS refund times will vary but most IRS refunds will be issued in less than 21 days after efiling. TaxSlayer cannot guarantee date of receipt of refund. Your Privacy is Important: We do not rent, sell or share your personal information with anyone. Your e-mail is used to communicate with you about your return status, retrieve your Username or reset your Password. *TaxSlayer phone support available January 2nd through April 19th. (C) 2013 JR Motorsports, LLC. The name, likeness and signature of Dale Earnhardt Jr are used with the permission of JR Motorsports, LLC and JRM Licensing, LLC.

*Free tax advice is available for free with TaxSlayer Premium Edition. This product is available by phone or email, Monday – Friday through April 15th. Please check the website for the hours of operation as they may vary due to capacity. * guarantees accurate calculations or we will reimburse you any Federal and/or State penalties and interest charges. *Maximum Refund Guarantee- Your refund is based on data supplied by you and is calculated based on the schedule and forms supported by A larger refund or smaller tax liability cannot be due to differences in data submitted to or positions taken that are contrary to law. If you find that another tax software calculated a larger refund or smaller tax liability based on the same information provided to, we will refund your applicable fees paid to *Actual prices for services rendered are determined at the time of print or efile and are subject to change without notice. Prices are good until April 1st 2013.

*All major forms and schedules: Your return is completed by all of the major forms and schedules supported by To see the complete list of major forms and schedules supported by visit *Supported Federal Forms page.
Go to top