how much money do you have to make to have to file you tax papers?

Question

ok im 17 in california
i just started working part-time
in mid november @ Mc.D's
and i realy have no clue
what im sposse to do about taxs
or any thing about taxs

Answer 1

yes, u should file taxes, MCD must have given u W-2 form showing how much federal & state taxes they have deducted. u can get back part of it as refund unless your parents are claimimng you as dependant.
u can file online federal return for free, see links below. good luck

Answer 2

That depends upon the source of the funds and whether or not you can be claimed as a dependent by another taxpayer. Here are the basics:

Self-Employment Income: $400 or more in any tax year. You must pay Self Employment Tax (15.3%) on the net profit from any Self-Employment income, even if you do not earn enough to be required to pay Income Tax.

Unearned Income: $850 or more in any tax year. If you are under 18, this will be taxed at your parent's marginal rate. This is the co-called "Kiddie Tax". Unearned income is interest income, dividends from stocks, capital gains from the sale of assets, rental and royalty income, etc.

Wages Subject to Withholding: $5,150 if you can be claimed as a dependent by another taxpayer. $8,450 if you are not claimed as a dependent by another taxpayer.

Even if no tax return is required, if you had a job and had Income Tax withheld from your wages you must file a return to receive a refund of the Income Tax withheld.

Answer 3

If you make more than $500 in a year you are supposed to file a return.

Answer 4

like 3800.00