Simple Common Sense:
It really makes no difference since the only time you actually do WANT to file is when the IRS says you don't have to!
They don't do that because it's good for you. They do it because it is more likely to be good for them. Certainly if you don't have to file, NOTHING BAD, in fact only good things, can happen by doing so.
Federal Taxes are the same throughout the country. State tax laws are specific to each area.
Whether you have to file a tax return (or pay tax) depends, in part, on your filing status, deductions, amount & type ofincome. There are no such things as "start and stop" ages, not having to pay because of retirement or on social security or working from home or a student. It is all addressed as a matter of"how much TAXABLE income."
(Note: working isn't relevant either, as many people who don't work or are retired, or disabled, or old, or young, or in school, have income from many sources: savings, investments, etc. TAXABLE income is different than what you may otherwise think of as income. In most circumstances, you have to do many of the calculations needed to file a return, just to determine what taxable income may be).
Likewise, there are no special or fixed rates for retired, student, doctor, sanitation worker, President, convict...whatever. The amount of taxable income after applicable deductions and adjustments determines the rate applied to your particular situation. The rate, as well as the amount, you pay changes as the amount of income does.
You must file a tax return if you had net earnings from self-employment of $400 or more. This is your total self-employment income less the expenses paid in operating your trade or business, multiplied by 92.35%.
If you weren't self-employed (paid on a 1099 or ran your own business) then you would always want to file a return to claim the amount withheld and shown on your W-2, which with lower incomes will always be refunded to you.
If you are an individual who may be claimed as a dependent on another person's return, you are subject to specific filing requirements. Refer to the instructions in your tax package or refer to Publication 929, Tax Rules for Children and Dependents, or Publication 501, Exemptions, Standard Deduction, and Filing Information, for the filing requirements for dependents. All available at www.IRS.gov
You must file a tax return if you received any amount of advance earned income credit payments from your employer during the year, or if you owe any taxes, such as:
Generally, you must file a tax return if you are a nonresident alien with income from sources in the United States. For more information on nonresident aliens, select Topic 851 at the IRS website.
Even if you are not required to file a tax return, file a return BECAUSE MANY, LOW INCOME PEOPLE HAVE MANY BENEFITS COMING THAT ARE KEYED TO FILING A RETURN. (Like stimulus checks).
Also, the Statute of Limitations for when the IRS can no longer ask you questions about your affairs for a year only STARTS to run when a return is filed. Not filing, and they can bug you, (and assess a tax) for forever!
oh im not sure but i am am phillipenes income tax worker and depend how you are but i pay a billion dollars or more per a person hope you like my awnser
Taxes are withheld from the first dollar, although you may not actually pay any and get it all rrefunded.
It has nothing to do with your age. If you earn taxable income, you have to pay the tax.
When you sell the gold, that is income- and you will pay Federal Income Tax on that income, just like you pay on wages you earn.
The state where you work and earn the income wants to collect some state income tax on the income that you earn in that state.
17,000
To answer your question, the taxes you pay on the money you earn (salary, income) is called income tax.
oh im not sure but i am am phillipenes income tax worker and depend how you are but i pay a billion dollars or more per a person hope you like my awnser
Taxes are withheld from the first dollar, although you may not actually pay any and get it all rrefunded.
It has nothing to do with your age. If you earn taxable income, you have to pay the tax.
There is no average income tax rate in America; income tax rates are determined by how much you earn. For example, if your taxable income is below $8500, then you will only need to pay 10%, while if you earn above $38000, then you will need to pay 35%.
The amount of money an 82 year old can earn before having to pay taxes depends on their filing status, sources of income, and deductions. In 2021, for a single filer aged 65 or older, the standard deduction is $14,250. So, an 82 year old can earn up to this amount before having to pay taxes.
Is the amount of money people earn in a pay period before any deductions or takes are taken out
When you sell the gold, that is income- and you will pay Federal Income Tax on that income, just like you pay on wages you earn.
Hi there,you can earn up to £5435 before you pay any tax.And for national insurance contributions you can earn £105 per week.Hope this is some help.
The state where you work and earn the income wants to collect some state income tax on the income that you earn in that state.
Married couple filing jointly both under the age of 65 not a dependent on another individual income tax return and no other gross worldwide income could have up to 18700 of interest income free of federal income tax for the tax year 2009.