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    miss7teen's Avatar
    miss7teen Posts: 7, Reputation: 1
    New Member
    		  
    #1

    Jan 8, 2008, 02:35 AM
    How do you Do taxes
    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's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    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's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #3

    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's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Jan 9, 2008, 09:52 AM
    MukatA's answer is more concise and all-encompassing (as usual)!
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