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How much do you have to earn to start paying taxes (and stop qualifying for any kind of return)?

Around here, most people get returns and don't have to pay because there aren't really any well paying jobs (mostly fast food, Walmart, gas stations, etc.), so no one has really been able to answer that except with, "Well, I think it's...." kind of comments, but they all vary significantly. Someone said $18,000 a year or more, someone said over $40,000, etc. Anyone know? I'm sure this is probably a stupid question, but I can't seem to find an answer anywhere else.

 
Mrs.BAT

Asked by Mrs.BAT at 11:17 PM on Jan. 27, 2011 in Money & Work

Level 38 (105,028 Credits)
This question is closed.
Answers (5)
  • Even if you make a lot of money you can get a tax return. If you make $100,000, and after all of your deductions you owed the government $25,000, but your employer paid the government $28,000 from your paychecks, then you overpaid by $3,000, and the government would send you a check returning that much of your money. I don't know how much you have to earn for them to quit giving all of it back to you, but you never earn too much to get any back....it's more a matter of did you pay enough, do you owe them, or do they owe you money back......
    ohwrite

    Answer by ohwrite at 11:24 PM on Jan. 27, 2011

  • I read the question wrong. :) Sorry. My SO made about the same amount as me last year and had to pay in almost $500 while I got back about $6000. I ha three dependants and he had none. He had a home loan and I didn't. His car was worth a different price than mine. Etc. Too hard to say a set amount because things vary by each situation.
    Memigen

    Answer by Memigen at 11:29 PM on Jan. 27, 2011

  • Thank you for clearing that up :) I've only heard of people getting it all/most of it back, or owing more than they paid out from employment.
    Mrs.BAT

    Comment by Mrs.BAT (original poster) at 11:26 PM on Jan. 27, 2011

  • Last time my mom checked you have to make $150 (one hundred fifty) to file taxes. They say ANY money.... but when she spoke to the IRS they said if it's under $150 it didn't really matter.

    As for max? I have no idea.
    Memigen

    Answer by Memigen at 11:26 PM on Jan. 27, 2011

  • It depends on how many people are in your family.
    MyGiftsFromGod

    Answer by MyGiftsFromGod at 1:43 AM on Jan. 28, 2011

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