The job I had this past year didn't take taxes out on me, I have recieved a form now to file taxes. How much can you make without filing?
2007-02-17 06:29:37 · 2 answers · asked by hcasey104 1 in Business & Finance ➔ Taxes ➔ United States
That depends upon your filing status and the form that they sent you.
If they sent you a Form W2 and you are single and cannot be claimed as a dependent on another taxpayers return, you must file if you earned over $8,450.00 in 2006
If they sent you a Form 1099, you are considered self-employed and must file a return if you have more than $400.00 in self-employment income since you will have to pay Self Employment Tax on the net profit from the business activity if it's more than $400.00
2007-02-17 06:35:20 · answer #1 · answered by Bostonian In MO 7 · 1⤊ 0⤋
If it's a form 1099, then you have to file if the amount is over $400 - you might not owe income taxes, but would owe self-employment taxes.
If you got a W-2, they took out social security and medicare but not federal income taxes, then you wouldn't have to file a federal return unless you made over $5150 if someone can claim you as a dependent, or $8450 if your single but are not a dependent.
Depending on where you live, you might have to file a state return even if you are not required to file a federal return.
2007-02-17 11:31:44 · answer #2 · answered by Judy 7 · 0⤊ 0⤋