How much money are you allowed to make before you have to file for taxes?

Question

Is there a particular set amount of money that you are allowed to earn and not file taxes?

Answer 1

It depends on several different factors:  Where you live; single-kids/no kids;  married-kids/no kids. Deductions: You can claim for money you had to spend monthly on clothes, uniforms, anything you had to buy for work (come up with reasonable monthly average), keep track of mileage and gas costs for any work related driving in your vehicle including travel to and from work.  That's all I can think of now. Hope it helps!  

Answer 2

I believe it's $600.00. Anything over that in a fiscal year and you have to pay taxes. It would also depend on the state your in to figure out the state taxes not just federal. Sucks huh? And remember everyone... the more you make the more they take! (and it's a bunch of bull poopy that you get it all back at the end of the year cuz you wont!)

Answer 3

$600

Answer 4

If you are self-employed:  $400

If you an employee and are claimed as a dependent by someone else:  $5450

If you and employee and are not claimed as a dependent by someone else:  $8950

Note:  If you are an employee, and make below those amounts, you do not have to file but you may want to file to get back any withholding.  Also, some states have lower limits.

Answer 5

$.01

Answer 6

Depends on what you do and age.... click the link below and read IRS articles.

Answer 7

It is a law that you must file a tax return.  All your wages are reported to IRS and you must file a return claiming your deductions and dependents.  IRS knows you earn X amount of money but doesn't know your filing status or if you have any dependents.

If you earn you must file, if you don't IRS will do it for you and you will more likely owe them.