I am a 19 year old college student and a California resident. I work two jobs, but the expected income for the jobs is $250 and $2000, making a total of $2250. What is the maximum amount I can earn without filing taxes this for 2007? (both federal and state)
2007-12-07 13:59:22 · 5 answers · asked by sakurashina 1 in Business & Finance ➔ Taxes ➔ United States
Assuming that you're still a dependent on your parents' tax return you would have to file if you earned more than $5,350 in 2007. However if any income taxes were withheld from you wages you should file to get those back.
That's for the Federal taxes. If your state has an income tax you may well be required to file even at that income and may owe some tax as well. Every state has their own rules and limits so it's not possible to say what your situation might be as you didn't mention your state.
2007-12-07 14:15:36 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
If both of your jobs are as an employee, with social security and medicare taxes taken out, then you don't have to file, although if anything was withheld for federal income tax you can get it back if you file.
2007-12-08 03:22:31 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
Even though you are not require to file a 2007 tax return do so anyway to get your tax withholdings back both federal and state.
2007-12-08 07:58:33 · answer #3 · answered by Gary 5 · 0⤊ 0⤋
The question is not the maximum amount without FILING, but the maximum amount without OWING. You can owe zero tax, but if you had taxes withheld from your pay and you don't file, you lose that money. $2500 is well under the level at which you begin to owe tax.
2007-12-07 22:09:32 · answer #4 · answered by curtisports2 7 · 0⤊ 0⤋
$8,450 as single filer
2007-12-07 22:08:15 · answer #5 · answered by Anonymous · 0⤊ 0⤋