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| *The Commerce Journal>>>United States Taxes |
You don't have to file income tax if you make below a certain amount of money, do you know that amount? |
You don't have to file income tax if you make below a certain amount of money, do you know that amount? Generally the filing requirement is a combination of your standard deductions and your exemptions. For a single person that would be $8,750, for a married couple the limit would be $17,100, However if you have business income with a profit greater than $400 you must file to pay your Self employment Tax. If self-employed, $400. |
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$60000 - $10700 filing joint - $10200 for 3 exemptions = $39100 taxable income. The tax is $5079. You will get a refund! Don't forget, I didn't include child tax credit, day care, or e... I'm so sorry to hear about your mother. Dealing with finances can only add to the stress of that situation, and I hope that someone's answer helps you and takes that load off your mind. ... Where do you get the idea that Southern states don't have an income tax? The following states have no income tax at all: Alaska Florida Nevada South Dakota Texas Washington Wyoming ... For business use vehicle expenses, you can use regular method (means you use actual expenses!) or standard mileage rate (48.5 cents-2007 for business miles driven). The value that you bought the v... You do not pay taxes on the money in a bank account, just on what you earn. However, most institutions do not issue a 1099 unless the amount is $10 or more. No big deal, really ...If you claim the child care tax credit, then you'll have to report who you pay it to, and he'll have to report it on his taxes. Legally this is the way you have to do it anyway - it'... Well, if $9000 is all you have to report, then you won't be paying any income tax, however your Self Employment tax will be around $1300. Earned Income Credit will subtract from this, causing ... I work for H&R Block. Tax professionals get at least 69 hours of initial training, and 24 hours of continuing education each year. Most of us take more than that (for example, I've done 61... |
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