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does a person have to file taxes if their self employment is 6000.00 dollars or less?

Author :

Submitted : 2018-06-15 06:38:54    Popularity:     

Tags: taxes  file  person  dollars  6000.00  

Yes. Anyone with $400 or more of income from self-employment must file. Yes. If your self employment income is $400 or more, you must file a Schedule

Answers:

Yes. Anyone with $400 or more of income from self-employment must file.

Yes. If your self employment income is $400 or more, you must file a Schedule SE to report the self employment tax you WILL owe. You won't owe any federal income tax, but having to file Sch SE requires that you file Form 1040. To get to the net self employment number, which is what you are taxed on, not the gross, you have to file a business return, either Sch C or Sch C-EZ.

Yes, you must pay self employment taxes, medicare, social security etc. if you made $400.00 or more.

Yes, they do.

Anyone who files a tax return is required to report ALL income. So if you have another job, or you're married and filing a joint return for a spouse's income, then you must include your self employment income no matter how small.

If you have no other income, then it only takes $400 of gross revenue from self employment to create a filing requirement. Notice that the requirement is based on revenue, not net profit. So even if you have expenses that bring the net profit down below $400, you would have to file a return showing the revenue and claiming the expenses to show the IRS that you don't tax on the full $6000.

Bottom line though, this person must file a return and might owe a decent amount for self employment tax (about 15% of the net profit after expenses).

of course

I thought it was $10,000 but I really don't know.

Self-employed persons must file (and pay) if they make more that $400 for the year.

here's 2 sites to look at because you will need to file taxes for SS and Medicare, along with Federal and State tax returns

Yes. You'll probably get a refund on taxes withheld from your paycheck.

Yes, as long as it's $400.00 or more.



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