Page 2 of 9 FirstFirst 1 2 3 4 ... LastLast
Results 11 to 20 of 87

Thread: Tax question

  1. #11
    probably eating
    Monica's Avatar
    Join Date
    Jan 2014
    Location
    INDY
    Posts
    9,568
    Thanks
    32,016
    Thanked 22,424 Times in 7,227 Posts

    Default

    Quote Originally Posted by CrystalClear View Post
    Okay, so let me see if I have this right. I made about $225 from turking last year and did not work as an employee (day job) for any other income. So, I should still file a regular Form 1040 for just the $225 as self-employment income? Is that right? Because last year, I didn't think I had to formally report anything under $400 and my dad was still planning on claiming me as a dependent on his taxes this year. Does that $225 I made invalidate the dependent option for my dad?
    Check the IRS website and maybe consider talking to a tax professional, but as far as my understanding goes if you make less than $4k and are being claimed as a dependent, you're not required to file taxes. But, I don't know for sure.


    If I wanted to kill myself, I would jump from your ego to your IQ.

  2. Thanks: (1)
  3. #12
    User
    Join Date
    Aug 2013
    Posts
    314
    Thanks
    22
    Thanked 55 Times in 41 Posts

    Default

    Go to irs dot gov. Plug in self employment in the search and on the right side you will see the instructions for that form. Quoted from there "Self-Employed Persons - You must pay SE tax if you had net earnings of $400 or more as a self-employed person."

    On the 1040 form (instruction booklet) it says that you only have to file if you made $10,150 for single under 65 or $20,300 married/filing jointly under 65. So if your only income was under $400 and only from turking then you wouldn't have to file. Correct?

    Also, there is more info on the next page of the instruction booklet on children and dependents.
    Last edited by FibonacciSequence; 02-01-2015 at 03:42 AM.

  4. Thanks: (2)
  5. #13
    User lm5626's Avatar
    Join Date
    Feb 2015
    Location
    Paris
    Posts
    1
    Thanks
    1
    Thanked 0 Times in 0 Posts

    Default

    It's really not easy to understand all these taxes stories. I'm a little lost.

  6. #14
    Verified Leader


    Flora's Avatar
    Join Date
    Jul 2012
    Posts
    43,195
    Thanks
    30,971
    Thanked 60,440 Times in 26,253 Posts

    Default

    Quote Originally Posted by lm5626 View Post
    It's really not easy to understand all these taxes stories. I'm a little lost.
    Welcome to the forum! All this tax talk applies to the US. I see you are from Paris? Taxes are different outside of US. You would have to check on that.
    New to the forum? Script to post HITs here.

    MTF GUIDELINES

  7. #15
    Banned
    Join Date
    Jan 2015
    Posts
    1,533
    Thanks
    876
    Thanked 1,608 Times in 841 Posts

    Default

    Quote Originally Posted by FibonacciSequence View Post
    Go to irs dot gov. Plug in self employment in the search and on the right side you will see the instructions for that form. Quoted from there "Self-Employed Persons - You must pay SE tax if you had net earnings of $400 or more as a self-employed person."

    On the 1040 form (instruction booklet) it says that you only have to file if you made $10,150 for single under 65 or $20,300 married/filing jointly under 65. So if your only income was under $400 and only from turking then you wouldn't have to file. Correct?

    Also, there is more info on the next page of the instruction booklet on children and dependents.
    Should the HR block software Deluxe that I bought, know this already? I don't remember it mentioning this form when I was going through it.

    So the estimated amount o f$70 is for Social security, federal, and state taxes? What about medicare taxes? IS that the ACA crap?

  8. #16
    User
    Join Date
    Jan 2014
    Posts
    3
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default

    Has anybody gotten their 2014 earnings yet? Does anybody remember what date the 2013 earnings came out?

  9. #17
    User CrystalClear's Avatar
    Join Date
    Feb 2014
    Location
    Los Angeles, California
    Posts
    301
    Thanks
    324
    Thanked 351 Times in 153 Posts

    Default

    Quote Originally Posted by Monica View Post
    Check the IRS website and maybe consider talking to a tax professional, but as far as my understanding goes if you make less than $4k and are being claimed as a dependent, you're not required to file taxes. But, I don't know for sure.
    Quote Originally Posted by FibonacciSequence View Post
    Go to irs dot gov. Plug in self employment in the search and on the right side you will see the instructions for that form. Quoted from there "Self-Employed Persons - You must pay SE tax if you had net earnings of $400 or more as a self-employed person."

    On the 1040 form (instruction booklet) it says that you only have to file if you made $10,150 for single under 65 or $20,300 married/filing jointly under 65. So if your only income was under $400 and only from turking then you wouldn't have to file. Correct?

    Also, there is more info on the next page of the instruction booklet on children and dependents.
    Okay, I figured it all out today. I'm not required to file taxes for last year, but definitely next year. With some help, I've got it all planned out. Thanks you guys, for your input. It really helped.
    "To the world, you may be one person. But to one person, you may be the world." ~Brandi Snyder
    Avatar artwork created by me

  10. Thanks: (1)
  11. #18
    User loppy's Avatar
    Join Date
    Apr 2014
    Posts
    82
    Thanks
    99
    Thanked 51 Times in 28 Posts

    Default

    I see total earnings on my dashboard, but how can I determine 2014 earnings?

    anyone?

    Thanks

  12. #19
    User BloodRayen's Avatar
    Join Date
    Oct 2013
    Location
    Germany
    Posts
    2,187
    Thanks
    987
    Thanked 1,844 Times in 918 Posts

    Default

    Quote Originally Posted by loppy View Post
    I see total earnings on my dashboard, but how can I determine 2014 earnings?

    anyone?

    Thanks
    should be present in the next few days

  13. #20
    User loppy's Avatar
    Join Date
    Apr 2014
    Posts
    82
    Thanks
    99
    Thanked 51 Times in 28 Posts

    Default

    Quote Originally Posted by BloodRayen View Post
    should be present in the next few days
    hope so

Page 2 of 9 FirstFirst 1 2 3 4 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •