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Paying taxes on a second job

 
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rum-a-dumb-dumb



Joined: 13 Dec 2007
Location: Daegu, South Korea

PostPosted: Wed Feb 27, 2008 11:01 pm    Post subject: Paying taxes on a second job Reply with quote

Hey folks,

This is my scenario....I have a F-2 visa, and I am currently working at a university (hence, I am paying korean taxes and pension)... all good ....

Just recently, a Korean friend of mine asked if I would be interested in working approx. 10-12 hours a week at his English Hagwon ... I am very interested to work there, as he will schedule classes around my schedule and is willing to pay me a nice chunk of change....

so my question is: I want to register this work with the Department of Education, and with the Korean Tax Office but I am not sure the exact procedure on how to do it ....

(1) should I apply to one office first before the other?


(2) what sort of paper work do I need to register?

(3) Do I need to obtain paperwork from the Hagwon verifying that I will be working there?

(4) Should the taxes come out of my pay check from the Hagwon, or do I need to pay just a lump sum at the end of the year?


I tried to do a search of Dave's, but I was getting a lot of hits on various topics...I will admit it, I got tired of browsing through the search engine...
Again, any answers to my queries will be greatly appreciated....

Please help....thanks in advance !!! Very Happy
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jbpatlanta



Joined: 02 Jun 2007
Location: Daejeon

PostPosted: Wed Feb 27, 2008 11:35 pm    Post subject: Reply with quote

I work several jobs also and I have a F2 visa. If you are working in a hagwon you don't need to do anything. At least in my experience. All the hagwons where I work part time deduct taxes out of my pay at 3.3% (independent contractor rate). At the end of the year they supply me with a tax sheet that shows the total amount of money I made and how much I paid in taxes. I use these to file my taxes and get my refund.

From what I understand, I could choose to not have my schools deduct any tax. In this case they would provide me with a summary sheet at the end of the year and the amount of tax paid line would be 0. Then when I file my taxes I would have to pay instead of getting a refund. I could be wrong about this as I have never done it this way.

I don't know about this last bit. If you want to be sure call or have your wife call the tax office and ask them. Do it how they tell you to do it.
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