Ok so i worked part time at fed-ex through about half the year, maybe a little more.
How do you know if you have to file for income tax ? isnt there something about if you dont make so much then you dont have to file ?
im just thinking that if my mom claims me we would get more money back than i would if i filed.
2006-12-28 08:49:01 · 9 answers · asked by etreum_rlt 1 in Business & Finance ➔ Taxes ➔ United States
For you, did you earn more than $5,150? If not, you don't have to file.
If you don't have to file, then try and figure out how much money in taxes you'll get back if you file (if any) vs. how much if your mom claims you. Your mom still might be able to claim you as a dependent even if you do file, but I'd ask a tax pro to be sure.
2006-12-28 08:59:36 · answer #1 · answered by Linkin 7 · 0⤊ 1⤋
7 incorrect answers so far. The link below is the instructions for IRS form 1040 and has the rules for who has to file. As long as your mother CAN claim you as a dependent, she should wither you file or not. If she can claim you, you can't claim the personal exemption even if she doesn't. If all your income is 'earned' (no interest income), you are not required to file unless your income is greater than the standard deduction. This year the standard deduction for singles is $5150. If you had any Federal income tax withheld, you should file anyway. In that case you are entitled to a refund of all Federal income tax withholding.
2006-12-28 18:56:01 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
If you worked for Fedex were you an employee (with Social Security and Medicare taken out of nyour check) or were you a contractor? If you were an independent contractor, you have Self Employment Tax issues and should (if nothing else) compute your income to see if SE Tax applies.
Otherwise, follow the link Steven F gave. It will answer your question if you take the time to read all of the applicable sections.
2006-12-29 06:52:39 · answer #3 · answered by skip 6 · 0⤊ 0⤋
If you're a dependent of your parents, then if you make over $600 you'd have to file. So if your mom can claim you, then yes, you need to file. But if you're not eligible to be claimed as a dependent, then you don't have to file unless you made over $8450. If you had any taxes withheld though, even if you made less than $8450, you should file to get your money refunded to you.
If your mom can claim you, then you still wouldn't pay tax unless you made over $5150. But you'd still be required to file. Your return won't affect what she gets back as long as she meets the rules to claim you. If you are over 24, or over 19 and not a full-time student, or if you provided more than half of your own support, then she can't claim you.
2006-12-28 17:26:15 · answer #4 · answered by Judy 7 · 0⤊ 1⤋
If you made any money from anything and paid taxes on it you have to file your taxes. You have to file yourself. If you are under 18 your mom will file you as a depended and will make money off of you. Don't worry. But, if you've had a job that wasn't under the table you must file.
2006-12-28 16:52:18 · answer #5 · answered by karbaw 2 · 0⤊ 2⤋
Check with tax companies but you do have to make a certain amount of money to claim taxes. If you still live with your mom and maybe go to school, she can claim you as a dependent.
2006-12-28 16:53:18 · answer #6 · answered by ntally_00 1 · 0⤊ 1⤋
If you get an income, you have to file.
2006-12-28 16:58:46 · answer #7 · answered by Anonymous · 0⤊ 2⤋
ask parents if they know your tax file number
2006-12-28 16:58:07 · answer #8 · answered by Anonymous · 0⤊ 1⤋
under six hundred..otherwise your screwed
2006-12-28 16:50:22 · answer #9 · answered by koalatcomics 7 · 0⤊ 2⤋