I haven't made but $8,000 for this year (for a host of reasons, mostly due to illness) and was wondering if I even have to file having made so little.
What do I do?
2007-02-06 05:04:37 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
You say that you're a small business. If you have $400 or more in Self Employment income you must file and pay any tax due. If your income is less than $8,450, the only tax that you'll owe is the 15.3% SE tax on the net income from your business.
2007-02-06 05:10:13 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
My God, I stay in Michigan, organisation are failing because, human beings don't have the jobs, human beings are not to any extent further making the money they used to, you deliver jobs overseas places, and those small plant workers get out of a job, then the position they purchase there nutrition, there issues there automobiles, there each and every thing wade through because they're loosing clients, they commence loosing clients and they commence slicing lower back also, it continually will artwork its way finished circle, you're taking a corporation of two hundred human beings, deliver the jobs to China, then the owner makes each and each and every of the money, the two hundred loose there homes, the agencies they used to flow to wade through and that is going to slowly artwork up hill except for the guy operating his plant in china, Even the human beings I have met interior the previous that did have some variety of questioning like yours, then they all started remembering, nicely organisation is all strategies sturdy even as a democrats in place of work and undesirable even as a republicans in place of work (President) maximum have realized the reality i comprehend they warfare to inform you in yet in a unique way, even though it in common words takes a a million/2 ounce of brains, take each and each and every of the human beings who're out of work and take each and each and every of the tax funds we've lost, which makes it more durable for each human being else, and take interior the very truth we gave them a tax destroy to deliver there jobs overseas places, hi, hi The freaking ruining of the country and the earnings of an noticeably few, Then the human beings who're accountable inform you its the democrats fault. WOW i'm a small organisation proprietor playstation did you comprehend even as the country develop into experiencing such positive improve and earnings in the course of the Clinton years and had a surplus Our former republican Governor Engler left Michigan with an vast debt for Granholm, a minimum of Granholm less than vast rigidity of funds has saved us on the point of being balanced, that is the backbone to improve
2016-11-25 20:24:38 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Yes you do. You probably don't owe any income tax, but would owe self-employment tax. With self-employment income, you have to file if you had over $400.
2007-02-06 05:36:07 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
You must file.
You could try using some online tax services listed here with special offers http://www.redtagdeals.com/tax_preparation_online-coupons
2007-02-06 05:14:22 · answer #4 · answered by weight-loss 2 · 0⤊ 0⤋