Tax planning when you work part-time
While some Americans only think about taxes in the weeks before April 15, part-time workers will likely need to keep on top of tax planning year-round. By knowing the rules, paying attention to withholdings and keeping an eye out for benefits all year, you’ll be able to maximize benefits and minimize prefiling stress.
- For 2021, Social Security tax is owed on wages, compensation and self-employment income up to $142,800.
Bank of America and its affiliates do not provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.