Does stay-at-home-dad have to file taxes if low income?

Question

Does stay-at-home-dad have to file taxes if low income? Like if it's under $1,000 for the year?

What about the child credit, how does that work for a non-married father with low income because of staying at home to watch the baby?

Answer 1

If you make more the $400 net you have to pay taxes
If you make less than $1000 a year you wouldnt be considered HOH, so its hard to see why you would claim EIC or CC. You should let your spouse claim it they will probably get more. or If you claim it, you probably wont have to pay taxes at all, because if you make less than $1000 that will be considered a loss if you are self employed. You can write of your bills, such as phone, internet or anything else you use to earn money from home. If you make less than $1000 annually, I would suggest working for this Company " LiveOps" I am a work at home mom and I work for them, sometimes making $1000 or more a month. You should definetly look into them. It is only $30 to start and it is by far the most dependable and legit work at home job out there. I promise

www.liveops.com
Edit:

note: if you work at home Im sure you are self employed, your tax guidelines are different from those who are employed. $400 you have to clam

Taken from irs.gov

Who Must Pay Self-Employment Tax?

You must pay SE tax and file Schedule SE (Form 1040) if either of the following applies.

Your net earnings from self-employment (excluding church employee income ) were $400 or more.
You had church employee income of $108.28 or more.
Your net earnings from self-employment are based on your earnings subject to SE tax. Most earnings from self-employment are subject to SE tax. Some earnings from employment (certain earnings that are not subject to social security and Medicare taxes) are subject to SE tax.

If you have earnings subject to SE tax, use Schedule SE to figure your net earnings form self-employment . Before you figure your net earnings, you generally need to figure your total earnings subject to SE tax.

Note: The SE tax rules apply no matter how old you are and even if you are already receiving social Security or Medicare.

http://www.irs.gov/businesses/small/article/0,,id=98846,00.html

Answer 2

With an income u der $1000, you wouldn't have to file a tax return unless it's from self-employment - if it is, the filing imit is $400 so yes, you would.

Since you don't have any tax, you would get no benefit from the child tax credit. You could still file a return though, and might be eligible for an earned income credit of a few hundred dollars.

Answer 3

If your income is from wages you do not have to file. If your income is from self-employment you do have to file.

You may be eligible for the Earned Income Credit based on your child. In order to receive the EIC you must file a return.

Answer 4

1. If you are not someone else's dependent, you do not have to file. If you are someone else's dependent, you may still be required to file.
2. You do not get any credits if you do not file.
3. It would be to the couple's advantage to marry and file jointly. This would decrease their total tax or increase there total refund.

Answer 5

File 'em. If you paid anything, you'll get it back, and if you need to get some kind of assistance (in some states, they'll pay for childcare so a single parent can work, or if you need to get medicaid or something like that) they use tax returns as a part of the basis to qualify you.

Answer 6

As long as you both Efile your returns, if you file paper returns you will need to wait for the slip. The CRA will not start to process tax returns until Feb. 15, 2010, filing before that the CRA will hold all returns until Feb 15.

Answer 7

If you make less than 5 grand a year you don't have to file per government rules. It would be to your benefit to file as you have a child and would get a break. Also you would get use of the money you get back in April.

Answer 8

You can't take the child credit with no income to credit or pay taxes on. At 1k a year you are not required to file.