TD1 & TD1ON -- New Full-Time Job plus Old Part-Time Job

[moi_sasha]

Hello, 

I'm filling out TD1 & TD1ON forms for my new full-time job. I plan on keeping my part-time job to earn a bit of extra money on the side to help pay off debts. I have two questions: 

1. On the TD1 & TD1ON forms given to me by my new Full-Time job, should I enter 0 on both forms and check the box "more than one employer" on both forms? 

2. Out of curiosity, I will make much more money on my Full-Time job than my Part-time job. My part-time job barely deducts taxes unless I make over $200 a week. Will my full-time job still deduct taxes and it will be put towards my taxes? 

Cheers!

[IhabShahMTaxCPA]

Hello,

Hope you are well.

1. Yes you can enter 0 on both TD1 & TD1ON forms and check the box "more than one employer" on both forms since you will have two jobs. This will ensure that the correct amount of deductions based on the income for each job. However, even if you didn't this will all be accounted for when you file your taxes with TurboTax to guarantee a 100% accurate tax return filing.

2. Yes, your full-time job will deduct taxes from your paycheque based on the income for your job However, since your part-time job barely deducts taxes, you may need to pay additional taxes at the end of the year depending on your total income (accounting for both jobs).

If you have any further questions or concerns, please do not hesitate to ask.

Ihab

[SimoneDo]

Hi @moi_sasha ,

1. Yes, you should enter "0" on both TD1 & TD1ON forms and check the box "more than one employer" on both forms. This will ensure that your employer withholds the correct amount of taxes from your paychecks. 

2. Yes, your full-time job will deduct taxes from your paychecks regardless of how much money you make at your part-time job. Any taxes withheld by your full-time job will be put towards paying your overall tax liability.