2007-11-26 07:05:12 · 4 answers · asked by Moe Hawk 2 in Business & Finance ➔ Taxes ➔ United States
That depends upon your filing status and the number of dependents claimed on your return. A married couple with 5 children would not pay any taxes until their income reached $34,500, and with the various credits available they could earn quite a bit more before they actually paid any tax at all, aside from Social Security taxes and maybe state taxes.
2007-11-26 07:33:38 · answer #1 · answered by Bostonian In MO 7 · 1⤊ 0⤋
The numbers Wayne lists is the limit where you have to file. As Bostonianinmo points out, you might not have to pay taxes even if your income is over the limit where you are required to file a tax return.
2007-11-26 19:08:08 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
Check the poor level for the state your live in. This can change depending on the state you live in.
2007-11-26 15:43:28 · answer #3 · answered by Helper 3 · 0⤊ 2⤋
If you are an employee and no one else claims you: $8750.00
If you are an employee and someone claims you: $5350.00
If you are an independent contractor: $400.00
2007-11-26 15:16:02 · answer #4 · answered by Wayne Z 7 · 1⤊ 0⤋