what is the maximum amount of money you can earn for the 2006 tax year and not pay tax? Will it change in 2007

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what is the maximum amount of money you can earn for the 2006 tax year and not pay tax? Will it change in 2007

2007-04-12 08:40:36 · 2 answers · asked by Jan N 1 in Business & Finance ➔ Taxes ➔ United States

2 answers

The amount depends on a lot of things, but if you're single, not anyone's dependent, and didn't have any self-employment income, you wouldn't have to file unless you made over $8150. If you had self-employment income over $400, you'd have to file.

Even if you have to file, it's possible you wouldn't owe any taxes.

The numbers will go up a little for 2007 but not very much.

2007-04-12 10:48:37 · answer #1 · answered by Judy 7 · 0⤊ 0⤋

Assuming you are single with no dependents and don't itemize, it is $8450 for 2006. It will be higher in 2007.

2007-04-13 01:32:42 · answer #2 · answered by Amy F 3 · 0⤊ 0⤋