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 02:42 AM.
It's really not easy to understand all these taxes stories. I'm a little lost.
So the estimated amount o f$70 is for Social security, federal, and state taxes? What about medicare taxes? IS that the ACA crap?
Has anybody gotten their 2014 earnings yet? Does anybody remember what date the 2013 earnings came out?
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I see total earnings on my dashboard, but how can I determine 2014 earnings?