How much do you have to make to file taxes?
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In the United States, the amount you have to make to file taxes depends on several factors like your age, filing status, and types of income. Here's a general guideline for the 2021 tax year: 1. Single Filers: If you're under 65 and not blind, you generally have to file if your earned income is at lRead more
In the United States, the amount you have to make to file taxes depends on several factors like your age, filing status, and types of income. Here’s a general guideline for the 2021 tax year:
1. Single Filers: If you’re under 65 and not blind, you generally have to file if your earned income is at least $12,550. For those 65 and older, the threshold is $14,250.
2. Married Filing Jointly: Both spouses under 65 and not blind must file if their combined earned income is $25,100. If one spouse is 65 or older, the threshold is $26,450. If both are 65+, it’s $27,800.
3. Head of Household: If you’re under 65 and not blind, you should file if your earned income is $18,800. For those 65 and older, the threshold is $20,500.
4. Self-Employed Individuals: If your net earnings from self-employment are $400 or more, you must file a return.
Remember, these are general figures, and there are exceptions. It’s always a good idea to consult with a tax professional for personalized advice based on your specific situation.
If you have more specific questions or need further clarification, feel free to ask. Sharing knowledge helps everyone make better financial decisions and navigate taxes more confidently!
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