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If Minor child receives 1099 income does he have to file tax return?
Presuming you claim him as a dependent, his income becomes yours. What the rules try to make sure that a parent can't have some income go to his children, who would have a much lower tax rate than the parent. It must be taxed at the parents rate. See the question "How much income do you have to earn before you file income tax?" which I'll try and link below too for more.
What does income tax mean?
Income is the money you earn that your employer pays you. Before an employer can give the employee his/her pay, he is required by law to first subtract an amount to be paid to the Federal Government, and to states that also have their own income tax. All income earned in the US is subject to Federal "income tax". The employer is required to pay some of your income tax up front for you so that the Government will be sure to receive some payment for you. If you earned income in any year, you are required to file an "income tax return" for that year and if there has not been enough payment made up front from you paycheck, you will have to pay the additional amount. If too much money has been paid up front, you will receive a check from the Government in the amount of the overpayment. a form that shows how much income you received from working sources, and how much tand otherax you must pay.
How many cpa are there?
This is too broad a question. Please Qualify. For example, how many CPAs are there in San Jose, CA?
How do you file taxes if you worked for cash?
You report the income as earned income...and very possibly consider yourself as running your own business, so file a schedule C too.
When do you choose 1 allowance on a w4?
When you need to reduce the amount of income tax that is being withheld from your gross wages. If your income tax refunds are too large when you file your income tax return you could do this and it would reduce the expected refund next year when you file your income tax return.
Will it be easy to pay for college if you come from a low income family?
If you come from a low income family, it is easier to get need-based financial aid. A college student can qualify for merit-based financial aid if their family makes too much to qualify for needs-based aid, yet they might face more financial strain if the family has a medium amount of income. In general, coming from a low income family should not necessarily be considered a handicap in itself to pay for college, because students from this background can qualify for both needs-based and merit-based financial aid.
How much income can a person have on Medicaid?
It's more like, how little do you have to make. That varies among the States.
If you have a debt-to-income ratio of more than 20 percent it may indicate that you have borrowed too much relative to your income?
A debt-to-income ratio of more than 20% may indicate that you have borrowed too much relative to your income.
How old does one have to be to qualify for Family Health Plus?
Family Health Plus is a service offered to people aged 19-64 that have too high of an income to qualify for Medicare. It is only available for citizens of New York.
What is kirk herbstreit's income?
Too much...he went to Ohio State!
What percentage of household income do Americans spend on clothing?
Too much
Can you get married and still keep your section 8 housing?
Yes, but if you get married, then the Housing Authority will add your new spouse's income as part of the total family income for that household, which could render you ineligible for the program if that income is too much.
How much income tax does Harry Reid pay?
Too much, only billionaires should pay taxes. :-)
What is the Definition of equilibrium income?
Equilibrium income exists when the supply of a good balances the demand of the good. This state prevents the fluctuation of price based on too little or too much supply on-hand.
Are there exceptions to the chapter 7 income test if the person has too much income to qualify now but believes they will not be able to complete a chapter 13 due to impending heart surgery?
Unfortunately bankrupcy laws do not allow for what may or may not happen in the future. An option might be for the petitioner to file the "13" and if the surgery becomes a reality try to have the "13" dismissed, then file a chapter 7.
People who earn too much money to qualify for Medicaid can often obtained free or low cost health insurance?
their children
People who earn too much money to qualify for Medicaid can often obtain free or low cost health insurance for their?
children
