How much income is needed to not pay taxes?

Answer If you live in the United States and make over $400 as a self-employed worker, you must pay tax on your income. Social Security and Medicare taxes will consume 15.3 percent of your income. If you w... Read More »

Top Q&A For: How much income is needed to not pay taxes

How much are income taxes in Australia?

The income tax rate for Australia between 2009 to 2010 depends upon the amount of income per year. The federal government taxes 15 percent for households that make between $6000 to $35,000 a year, ... Read More »

How much income do i need to claim taxes?

If you are single, no one can claim you as a dependent, you are under 65 and made less than $9,350, then you do not need to file a federal return. If you are self-employed, any amount over $400 mus... Read More »

How much is the penalty for underpayment of income taxes?

United States law requires corporations, citizens and resident aliens to pay taxes depending on their level of income. The Internal Revenue Service (IRS) will penalize you for nonpayment or underpa... Read More »

How much income is needed before AMT is taxed?

Because every tax situation is different, all taxpayers earning more than $75,000 in a year should fill out IRS form 6251 to calculate whether or not they need to pay the Alternative Minimum Tax.So... Read More »