How much is the income tax for modelling? (NYC)

Are you employed or are you a private contractor? Did you fill out a w-4? You decide how much taxes to take out based on your w-4

Well, you have the sequence a bit screwed up…

The agent took his 20% from the gross, not the net. Then he deducted a pretty hefty amount for tax, but depending on the W-4 you filed (you had to have filed a W-4 form), and with FICA and Medicare taxes + the ‘employer’ portion of each, since you’re apparently self-employed… it’s not wholly unreasonable. The tax amount might seem like a lot, but if it’s a short-time employment situation, the tax withholding is higher. (It doesn’t affect the amount of tax that you’re liable for at the end of the year, in fact you might get a decent ‘return’ from your tax filing, but it’s not smart to give up the money and then have to file for it later. Better to pay less now, and a little bit more when you file.)

If you’re not working like that often, then file another W-4 form with lower withholding, which is a totally legal and aboveboard thing to do, so that your withholding won’t be so high next time.

Look on the statement and make sure the tax was truly reported. Do not accept a simple check for $495 with no written explanation. You should demand a back up statement that has your employer’s tax id as well.

http://imgur.com/gzA7h

That’s what was sent to me with the check. I still have no idea as to what I should tell my agent.

Seems perfectly legitimate to me, judging by appearances. Next January you should receive a tax form from them (a W2 if you’re an “employee”, or a 1099 or equivalent if you’re a contractor, which does not appear to be the case here) detailing the summary of income paid to you and tax payments withheld (and presumably paid on your behalf) by this employer. (You’ll receive roughly similar summary reports from all of your employers over the course of the calendar year, and that’s what you use to file an income tax return.)

Few employees ever get to see that the tax payments are actually forwarded to the state and federal treasury, but we accept that as a given when we file a tax return with their name and taxpayer ID at the end of the year, and the IRS (and state tax people) match that up with receipts from them.

First job?

I don’t think you need to tell your agent anything, except “Thanks for the gig; when can I do that again?”