how much do you have to earn to pay income tax?
 

If you earn less than 9000 a year, you don't have to file any tax right?

I am looking at this chart on this website -> http://www.mydollarplan.com/money-file-taxes/

I have never filed any tax so if you can help me on this, Id appreciate it.

Re: how much do you have to earn to pay income tax?
 

You still have to file regardless if you make any or not.

Re: how much do you have to earn to pay income tax?
 

That's one hard question.

If you make more than $400 as self-employed you are expected to file and the list goes on and on.

Re: how much do you have to earn to pay income tax?
 

what if i work for someone and make less than 600 a month?

Re: how much do you have to earn to pay income tax?
 

Do they treat you as an employee or as an independent contractor?

Re: how much do you have to earn to pay income tax?
 

indepenadnt contractor. I am single and live in parent's house. Earn around 600 a month. :(

If i use this money to buy a book for a school / or pay colelge tuition, do i get any deduction?

What is the tax rate for me :0?

Re: how much do you have to earn to pay income tax?
 

There are two different issues that shouldn't be mixed. If you are EMPLOYED and make less than the $8000 or $9000 or whatever it is, you don't have to file, but the assumption is you have already paid your social security, medicare, and federal taxes (if any). I would say to go ahead and file so you have a 1040 you can use to prove your income later, and if they've deducted any federal taxes from your check to get a refund on it.

If you're an independent contractor however, nobody has taken out any taxes or Social Security so if you make more than $400 (or whatever the actual number is), you have to act as if you're the business and pay both the employer and employee portions of SS and Medicare. 6.2% times 2 and 1.45% times 2 .

Re: how much do you have to earn to pay income tax?
 

Okay, do you have a social? Do your parent's claim you as a dependent? Are you 25 or +?

Yea, then what would happen is you would owe the IRS self-employment taxes.

You might qualify for the American Opportunity credit.

I'd like to hire you once I open up my tax office.

Re: how much do you have to earn to pay income tax?
 

What makes you think he'd want to work for you lol maybe he wants to hire you when he opens up HIS tax office

Re: how much do you have to earn to pay income tax?
 

My dad is in korea and he sends money to my mother's bank account each month so she doesn't file any tax since the money is earned from other country.

I am under 25. :( all this tax related stuff is so confusing.