I am not trying to do anything illegal here. I was once told that if you make less than a certain amount you do not pay federal income taxes. This is my goal. I have simplified my life, grow or raise most of what I eat, and am debt free so I need little as far as income goes.
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Is there an income level at which you do not pay federal income tax or at least get most or all of it back?
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#1 Sat Oct 03, 2009 3:50 pm
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#2 Sun Oct 04, 2009 9:15 am
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If you are single, it's $9350 for 2009.
If you are self-employed and make between $400 and $9350 for the year, you won't owe any income tax but you will owe self-employment tax. Nothing personal, but I have never understood the theory that making $10k for the year and not paying taxes is somehow better than making $50k-$100k and paying taxes. |
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#3 Sun Oct 04, 2009 11:20 am
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If your income is below the filing requirement, it means that you do not have any taxable income. You will get back all the income tax withheld.
Many times even when income is more than the filing requirement, you will still get back all the income tax withheld or even more due to EIC. |
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