View Full Version : How do you Do taxes
miss7teen
Jan 8, 2008, 02:35 AM
I want my boyfriend to do his taxes this year.
How much do you have to make
And do you have to save all reciets?
AtlantaTaxExpert
Jan 8, 2008, 07:29 AM
If his income is below $8,750, he has NO LEGAL REQUIREMENT to file a federal tax return.
Whether he has to file a state tax return depends on the state requirements.
However, he may WANT to file to recover whatever federal income taxes were withheld.
If he has a normal job, more than likely he will file Form 1040EZ, which requires NO receipts. The only form he will likely need is his W-2 from his job, which he will get sometime this month.
You can file on-line at any number of tax websites. I personally recommend TaxAct.com.
MukatA
Jan 8, 2008, 11:17 PM
For Single nondependent the limit is $8,750.
For self employed the limit is $400
For Single Dependent the limit is $5,350 for the earned income; $850 for the unearned income; and up to $5,050 earned income plus $300.
Even if he is not required to file, he should file to get refund of taxes withheld.
About "save all the receipts": Yes, if he is self employed. If he is an employee, he will get W2 from the employer that he must save.
AtlantaTaxExpert
Jan 9, 2008, 09:52 AM
MukatA's answer is more concise and all-encompassing (as usual)!