how much do you have to earn to pay income tax? - Page 2

Originally Posted by Happyman0607

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

Originally Posted by star293

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.

Originally Posted by star293

20 ysr old. earn 600 a month. independant contractor. I use my money to buy textbook and im saving up for college tuition.

Originally Posted by msaccountant

:P

Watch out or I'll get the IRS to audit you!





Oh okay. Hey don't worry this tax stuff is confusing to people that are twice your age....which is really sad but whatever. Anyways, did you receive DACA?

I would tell you not to file a tax return since many people your age usually don't. But If you do file a return you will have proof of income which comes in handy when you are trying to apply for a loan, or financial aid if your state offers it. However, be prepared to owe the IRS.

But hey maybe your boss will pay half of it. I've done some folks tax returns that were self employed and they would say their boss was going to pay half of it. So maybe you'll get lucky.

Originally Posted by msaccountant

:P

Watch out or I'll get the IRS to audit you!

Originally Posted by star293

yah i received DACA. Many people at my age don't :0? I am scared of IRS knocking on my door xD

So i dont get reduced tax rate for using the moeny I earned for education purpose? (school book / tuition / etc)

Originally Posted by star293

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.

Originally Posted by IamAman

Preface: I'm not advocating not paying taxes if you have your papers and you can, but I'm curious, HOW did you get this $600? Did they just give you cash? Did they give you a W-9 form to fill out and took down your SSN and send you a 1099 form at the end of the year? In other words, is it documented that you made this money? You can draw your own conclusion from the answers.

Originally Posted by star293

they gave me a form and i had to give out my SSN number and my name. It is an independant contractor job. They dont consider me as an employee but I get paid.

Originally Posted by star293

they gave me a form and i had to give out my SSN number and my name. It is an independant contractor job. They dont consider me as an employee but I get paid.