How much do I have to earn before pay
tax?
For most taxpayers, the table below shows
how much they have to earn before they need to pay tax.
If your tax filing status is
|
AND at the end of 2007 you were..
|
Then file a tax return if your gross income
were at least...
|
| Single |
under 65 |
$8,750 |
|
65 or older |
$10,050 |
| Married filing
jointly |
under 65 (both
spouses) |
$17,500 |
|
65 or older (one
spouse) |
$18,550 |
|
65 or older (both
spouses) |
$19,600 |
| Married filing
separately |
any age |
$3,400 |
| Head of household |
under 65 |
$11,250 |
|
65 or older |
$12,550 |
| Qualifying widow(er) with
dependent Child |
under 65 |
$14,100 |
|
65 or older |
$15,150 |
However there are exceptions for dependents
and a few other categories of taxpayers.
I am self employed, how much do I have to
earn before pay tax?
For a self employed taxpayer, if the net
earnings from self employment is at least $400 then you will
have to file a tax return and may have to pay tax including
self employment tax.
|