Question about Federal Income Taxes

[jessicak]

Is there a minimum amount that one must earn in order to see deductions of federal taxes in their paychecks? So far I have only had one paycheck that had any federal tax deductions. If so, does anyone know what the minimum income is? Thanks.

 

[SunnyD]

See the stickied thread at the top of Off Topic by CPA? The one that's posted "Tax tips" or whatever?

Use it.

 

[jessicak]

Originally posted by: SunnyD
See the stickied thread at the top of Off Topic by CPA? The one that's posted "Tax tips" or whatever?

Use it.

i don't need "tips" i am just wondering if there is a minimum amount one must earn to have any federal taxes deducted.

 

[rudeguy]

Originally posted by: SunnyD
See the stickied thread at the top of Off Topic by CPA? The one that's posted "Tax tips" or whatever?

Use it.

see that button at the top right? The one that's labeled "logout" or whatever?

Use it.


To answer your question, yes there is a minimum amount you have to make. I dont remember what it is though. I remember when I was young and worked a job part time, just a couple hours a week, they didnt take out any taxes. Wish I could help more.

 

[sygyzy]

It's something like $12,000.

 

[jessicak]

Originally posted by: rudeguy

Originally posted by: SunnyD
See the stickied thread at the top of Off Topic by CPA? The one that's posted "Tax tips" or whatever?

Use it.

see that button at the top right? The one that's labeled "logout" or whatever?

Use it.


To answer your question, yes there is a minimum amount you have to make. I dont remember what it is though. I remember when I was young and worked a job part time, just a couple hours a week, they didnt take out any taxes. Wish I could help more.

thanks 🙂

 

[TJN23]

i was looking through the tax tips thread, and couldnt find this....


anyone know a good place to file your tax return online (for free) ?

thx

 

[draggoon01]

http://www.irs.gov/faqs/faq2.html

How much does a student have to make before he or she has to file an income tax return?

If you are an unmarried dependent, you must file a tax return for 2003 if you have earned income of more than $4,750, unearned income of more than $750, or if your gross income is more than $750 and exceeds your earned income by more than $250. If part of your earned income is from tips, see Tax Topic 402, Tips .

Even if you do not have to file, you should file a federal income tax return to get money back if any of the following apply:

You had income tax withheld from your pay.
You qualify for the earned income credit.
You qualify for the additional child tax credit. Refer to Publication 501, Exemptions, Standard Deduction and Filing Information, for an explanation of the five exemption tests and filing requirement rules.

 

[Ausm]

Originally posted by: rudeguy

Originally posted by: SunnyD
See the stickied thread at the top of Off Topic by CPA? The one that's posted "Tax tips" or whatever?

Use it.

see that button at the top right? The one that's labeled "logout" or whatever?

Use it.


To answer your question, yes there is a minimum amount you have to make. I dont remember what it is though. I remember when I was young and worked a job part time, just a couple hours a week, they didnt take out any taxes. Wish I could help more.

LMAO


Sysadmin

 

[rgwalt]

JessicaK- You will not pay any taxes if you don't make more than the total of your standard deduction and personal exemption. If your parents claim you as a dependent, you can't take a personal exemption. Also, that changes how much money you can claim for your standard deduction.

It doesn't sound like you are making enough money per paycheck for them to withhold money. However, the aggregate effect of this could lead you to have to pay taxes at the end of the year.

R