Ask Experts Questions for FREE Help !
Ask
    crissie_bell's Avatar
    crissie_bell Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jan 13, 2007, 08:41 AM
    Earnings for filing income taxes
    How much money does one have to earn per year before they have to file income taxes
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Jan 15, 2007, 11:24 AM
    The combination of your personal exemption ($3,300) and your standard deduction ($5,150) for a total of $8,450.

    So if you make $8,450 or less, you have no requirement to file an income tax return.

    However, you may want to file a tax return to get withheld taxes back or to qualify for the Earned Income Credit of, if you have children, the Child Tax Credit.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Filing Taxes [ 1 Answers ]

I have a business and I have been filing my personal taxes combined with my business. Is it better to file seperatly business and personal or does it make a defference?

Filing income taxes [ 1 Answers ]

I have been totally disabled since 12/2005. I am currently receiving compensation from a service connected disability and I am receiving social security disability income. Do I have to file income taxes for 2006? I have also contributed 4000 dollars to a traditional IRA during 2006. Thanks for any...

Taxes on 1099 earnings [ 13 Answers ]

Hello AtlantaTaxExpert Thanks in advance for your time. I came to the US in Jul 2001 on an F-1 Visa. My OPT started in OCT 2005 and ends in OCT 2006. I started working for my current employer on 3rd Jan 2006. He knows my status is OPT and said that he wouldn't generate a W-2 for me and at...

Filing for 2004 taxes and 2005 taxes [ 1 Answers ]

Hi I just received my W2 from my employer and there were 2 W2's. One W2 was for the wages of Dec 2004 (since the employer pays 1 month delayed salary) and the other one was for Jan - Nov 2005. I want to know if I can refile my 2004 taxes since I just got my Dec 2004's W2. If I add that...

Filing Taxes [ 1 Answers ]

I have used both TurboTax and Hrblock online tax preparation forms, and on both, I get that whether I am claimed as a dependent or not, my refund is the same, when I think I would get a bigger refund if Im not claimed as a dependent, at least that's how its worked in the past.

View more questions Search