What is the minimum amount of money a contractor can make before they have to claim taxes on it?

Question

-My question is geared toward dependent, full time students

If possible, is there a link I can look at to read up on this specific question?

Answer 1

Anything over zero.

Answer 2

$50,000.00     R  E  W  A  R  D

Is offered to anyone who can show me the following:

1. What statute makes me liable to pay an income tax.

2. How I can file an tax return without waiving my Fifth Amendment protected Rights.

My name is Bill Conklin and I have researched the Internal Revenue Code for twelve years. It is my opinion after extensive research that there is no statute that makes anyone liable for the income tax and that all individuals who file tax return waive their Fifth Amendment protected Rights. The I.R.S. refers to the income tax system as a “voluntary tax system” so they can continue to use the information proffered on 1040 Returns against individuals in criminal cases.

What does the I.R.S. say about me? Mr. Conklin “knows the I.R.S. and I.R.S. procedures inside and out.” (Quote of Russ Vialpando, Special Agent, Denver District Office.)

Write for a free information packet to:  



N.C.B.A.

P.O. Box 2255

Longmont, CO 80502

Answer 3

If a person is otherwise required to file a tax return, all income from self-employment is reported.

If a person is not otherwise required to file a tax return, then if he has net income of $400 or more from self-employment, he must file a tax return.  In practice, if the gross income is $400 or more, he should file in order to show expenses, which may or may not bring the net income to less than $400.

The age or dependency of the taxpayer does not affect this requirement.