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2016 Standard Deduction Amounts
Single $6,300
Married Filing Jointly $12,600
2016 Personal Exemption Amounts
personal exemption amount is $4,050
For any couple filing Married Joint, their combined Standard Deduction + Personal Exemptions will be $20,700. So they will need to earn more than $20,700 before they can begin to pay Income Taxes.
For a single person, his / her Standard Deduction + Personal Exemption will be $10,350. They would need to earn more than $10,350 before they can begin to pay Income Taxes.
Miminum Wage is $7.25/hour. If you work 40hr/week then you have earned $290/week, after 52 weeks/year and you will have earned $15,080.
If a single person earns $15,080/year, then write-off $10,350 leaves you with $4,730 that might be taxed [assuming that you refuse to use any other forms of write-offs].
Keep in mind that poverty for a single person is $11k/year.
If you are working fulltime, then you are earning $15k/year [or more]. If you are single this is $4k greater than the poverty level.
A single person working fulltime is earning $4k/year more than poverty.
You're moving the goal posts. First you said not high enough to pay any taxes, now you're backpedaling and saying that taxes are paid, but only on $4,730.
You're moving the goal posts. First you said not high enough to pay any taxes, now you're backpedaling and saying that taxes are paid, but only on $4,730.
It has been so long since the last time I paid into Income Taxation, I tend at assume that other people like filing taxes. In fact most people do not. So yes you caught me.
If you work Minimum-Wage and your single and you insist on only using a EZ-form [becuase it is EZ], then sure a small portion of your income may be subject to taxes.
47% do not pay income taxes, and this is not the wealthy folk.
If you work Minimum-Wage and your single and you insist on only using a EZ-form [becuase it is EZ], then sure a small portion of your income may be subject to taxes.
Which form would you suggest that they use, and what would be the benefit to them by doing so?
In some countries children that age are already working, married and a few are even mothers.
American children are too coddled!
Are you serious?
Do you want to see 13 yr olds married,working,and parents?
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