I made about 12,500 on the books last year. i tried to do my tax return online and it says I owe around 375 dollars. that cant be right. They already took out about 800 dollars in taxes, what the poverty line as to where one does not need to file for taxes.
2007-03-18 10:10:37 · 4 answers · asked by nailz 2 in Business & Finance ➔ Taxes ➔ United States
Poverty line is an amount that's set to determine eligibility for various social services, and doesn't have anything to do with income tax.
If you're single, with no dependents, you can earn up to $8450 without having to file a tax return or pay any taxes. You made more than that, so the amount you show probably is your tax liability. But that's not an additional amount that you owe, that would be the total, and if the $800 you paid in was for federal income tax, then you'd get the rest back as a refund.
Then of course there's the other thing - you said "I made about $12,500 on the books last year" - that implies that you have additional off-the-books income. If you do, you and the person paying you off the books are committing tax fraud, and if you get caught at it, can both be subject to severe penalties.
2007-03-18 11:34:31 · answer #1 · answered by Judy 7 · 1⤊ 0⤋
$5000 or there about.
I made $9000, but I still need to do taxes.
2007-03-18 10:16:41 · answer #2 · answered by zander1331 3 · 0⤊ 0⤋
It depends on how old you are, and what your filing status is.
2007-03-18 10:19:56 · answer #3 · answered by !DookDook! ♥ 6 · 0⤊ 0⤋
around $9,000
2007-03-18 10:33:21 · answer #4 · answered by Anonymous · 0⤊ 1⤋