Self employment taxes?
If i earned $5412 for 2012 through an ad program called Google Adsense and i live in New York i know i have to pay for self employment taxes which would be 12% but my question is do i have to pay for income or city tax if i only made $5412 for the whole 2012? I am a dependent under my parents and this is my only source of income.
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Self employment tax is 13.3%. The NY tax will be a few hundred.
You might have to pay New York City unincorporated business tax. I am not sure if you have to pay state or city income tax. You don't have to pay federal income tax. As you mentioned, you do have to pay self-employment tax.
replying again to your same post, your self employment tax is $665 which has to be paid
this is not taxable for income tax
and as far as your local taxes are concerned, yes, when you file you will be charged whatever is appropriate for your area
You being a dependent or not has NOTHING to do with owing taxes on the money.