If I want to file taxes for a flop cleaning business I started would it be worth it. I worked on this venture for two weeks making 230 dollars even. I have one dependent...my child. I have also benefited from EIC for the past 5 years. Question is...
Is it worth it to file for this 230 dollars?
2007-01-12 02:50:59 · 3 answers · asked by prytybyrd 2 in Business & Finance ➔ Taxes ➔ Other - Taxes
If that is your total income you would get back $ 77.00 in EIC. If you have other income and added that to it you would get more.
2007-01-12 04:49:15 · answer #1 · answered by acmeraven 7 · 0⤊ 0⤋
this isn't manipulation - assuming both anybody is both the organic and organic moms and dads of the youngster, on account that both meet the skills to declare the youngster as a qualifying baby, they are allowed to elect on who takes the esxemption and the linked advantages in effortless words one in all them can take them). See web page 28 of IRS ebook 17, interior the area "particular try for Qualifying Chilfd of better than one individual". The tax preparer's "perception" the following is genuine. they don't seem to be "getting away with" something, they are following the regulation. Why are you so bent off type about it? if you're relating the tiebreaker regulations for who receives the exemption, they don't be conscious the following. in simple terms as an better be conscious - the IRS is searching heavily at EIC claims this 12 months, and is catching many that are claimed without foundation.
2016-11-23 13:59:59 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Your not required to file. If thats all the income you had then I would say no.
2007-01-12 02:55:12 · answer #3 · answered by WillsBroncoGal 3 · 1⤊ 0⤋