2007-03-19 16:12:25 · 8 answers · asked by BP 09 1 in Business & Finance ➔ Taxes ➔ United States
It depends upon the source of the income, your filing status, and whether or not you can be claimed as a dependent by another taxpayer.
The following are the amounts for 2006 for someone who is under age 65 and is not blind. They're slightly higher for wages for 2007:
If you have $400 or more in self employment income, you must file
If you are single and cannot be claimed as a dependent by another taxpayer and have $8,450 or more in wages, you must file.
If you can be claimed as a dependent by another taxpayer and have $5,150 or more in wages, you must file.
If you have $850 or more in unearned income (dividends, interest, etc.) you must file.
2007-03-19 16:23:38 · answer #1 · answered by Bostonian In MO 7 · 2⤊ 0⤋
If you are a dependent your personal exemption is $850. If yo made less than that but paid taxes, you can get a refund on everything you paid in. If no-one claims you as a dependent it's $5,000. You may also qualify for earned income credit up to $800-$1,000 (it depends on your age) in addition to any refund you may get back so best thing to do is to fill out a tax form and see where you're at.
BTW, If you want to figure your taxes on computer you can get a copy of HR Block's Tax Cut at Dollar Tree, or Everything's a $1 (most $1 stores have it) for you guess it.....$1.
2007-03-20 00:09:53 · answer #2 · answered by Charles F 2 · 0⤊ 1⤋
The amount of money that you can earn in a year as of 2006 and don't have to file an income tax report is $3,300.00
2007-03-19 23:30:42 · answer #3 · answered by kaybil 2 · 0⤊ 3⤋
More importantly how much can you earn and not PAY taxes. Dont be afraid to make money. Some people pay into taxes and get it all back PLUS more.
2007-03-19 23:15:13 · answer #4 · answered by batwanda 4 · 0⤊ 1⤋
If you're self-employed, it's $400.
Otherwise, if you can be claimed as a dependent, it's $5150.
And otherwise, if you're filing as single, it's $8450 - other filing statuses have higher limits.
2007-03-20 00:39:33 · answer #5 · answered by Judy 7 · 2⤊ 0⤋
depends how old you are
if you are blind
if you are married
if you are self-employed
it's not $600.
2007-03-19 23:16:35 · answer #6 · answered by Jo Blo 6 · 0⤊ 0⤋
it depends from state to state.
read up on the tax laws in your state.
:D
2007-03-19 23:19:59 · answer #7 · answered by Anonymous · 0⤊ 1⤋
I BELIEVE IT'S $500 ASK YOU TAX MAN IF I YOU YOU I'D WANT TO MAKE AS MUCH MONEY AS POSSIBLE YOU DO GET MONEY BACK
2007-03-19 23:19:02 · answer #8 · answered by kitty 6 · 0⤊ 2⤋