how much money can a person make a year to avoid paying tax at the end of the year?
ok so i am married just got married on dec. i have no kids... i already have a job and i am thinking about geting another job. but the things is i dont want to make too much money where i will have to pay taxes at the end of the year. my husband is from mexico and does not have a job...he just does little jobs here and there (cut lawns,.....) so i am the only one with a actual job. i just want to know how much money can i make a year so i wont have to pay taxes at the end?? can someone please let me know...more or less how much? again i am married my husband has no job and we have NO KIDS! please someone let me know
United States - 4 Answers
Random Answers, Critics, Comments, Opinions :
1 :
Why do you want to limit your income so you don't pay taxes?? This makes no sense! Once you make a certain amount you do incur a tax liability, but it's only a small fraction of the money that you make. So you might be turning down the opportunity to make $100 extra because you'd have to pay $15 taxes on it--you still have $85 more than you did before! Make less than $18700 as the sole earner and married filing jointly and you'll have zero tax liability. Make more than that and you might have to pay taxes (depending on your exact situation, you might not) but you'll certainly have more money than if you did not make that extra amount. Making more money is hardly ever a mistake.
2 :
There's a difference between owing taxes and being obligated to file a tax return. As you work, there is withholding from your paychecks. When you file your tax return you determine whether you have paid all the tax you owe, whether you are due a refund, or whether you owe the IRS more. Too many variables. Check it out www.irs.gov Do I have to File?
3 :
Also...hubby is SELF-EMPLOYED. So if his total earnings for the year is $401.00 or more then he will need to figure Self-Employment Tax [SET]. Here's the thing. SET is an "additional tax". So even if your Total Tax is zero because the Adjusted Gross Income for you and hubby was less than your total deductions, then hubby will likely owe some tax for SET. So if you have made allowances for that - either by him making quarterly, estimated payments or by you having an additional amount withheld from your wages then you won't owe any tax at the end of the year...if not, then you likely will.
4 :
It depends on a lot more than just your amount of income. And by the way, your husband's income from mowing lawns is legally taxable.
