I'm 26, single, and I worked my first year as a Real Estate Salesperson. I made less than $10,000. Do I need to file? I know there is a minimum, but I can't find any information. I'm considered an independent contractor.
2007-01-28 13:04:04 · 3 answers · asked by John P 1 in Business & Finance ➔ Taxes ➔ United States
The minimum is $8450 before you have to file.
2007-01-28 13:09:00 · answer #1 · answered by Barkley Hound 7 · 0⤊ 1⤋
The minimum for an independent contractor is only $400.00.
Get ready to get the checkbook out. You will be writing a check to Uncle Sam (and possibly the state) before too long.
2007-01-28 14:51:44 · answer #2 · answered by Wayne Z 7 · 0⤊ 0⤋
Even if you earn below the threshold, it is best to file a complete return recording that fact with the IRS.
Otherwise they may come after you years from now looking the proof...
2007-01-28 13:08:28 · answer #3 · answered by Anonymous · 0⤊ 1⤋