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An income threshold is the amount of earnings a person can receive before they have to start paying taxes. Each state has different amounts to this threshold.
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What is the earning threshold for a child to pay taxes?
The child's income is essentially considered the income of the parent...so it is taxed at their rate, and presumably they have enough income to be taxed.
What term describes an income level below that which is needed to support a family or a household?
Poverty threshold
What are the qualifications for a federal tax refund?
You qualify for a federal tax refund if you have reached the tax reporting threshold and filed for income taxes. The tax reporting threshold varies depending on your age and marital status.
Do you have to file an income tax return over the age of 80?
There is no age limit on the requirement to file and income tax return. As long as you have more income than the filing threshold, you will be required to file a return, no matter what your age.
When do taxes start?
For wage earners: When you exceed a certain threshold of earned income. For taxpayers: Whenever you buy something in a store.
What do you call the minimum income needed to support a household?
The Poverty Threshold
What is the income threshold for exemption for Medicare deduction from Social Security?
There is no income threshold for Medicare taxes. While the 6.2% Social Security tax is only deducted from the first $106,800 of gross income, you continue paying 1.45% for Medicare on all wages earned.
Do you have to pay taxes on diusabilaty?
If the total amount of disposable income you receive exeeds the the minimum taxable income threshold, then yes of not, then no.
What is the earning threshold for a child to pay taxes?
The child's income is essentially considered the income of the parent...so it is taxed at their rate, and presumably they have enough income to be taxed.
What is an income level called that is below what is needed to support families or housesholds?
poverty threshold
What term describes an income level below that which is needed to support a family or a household?
Poverty threshold
Is 30% of your income and section 8 the same in MI?
No, qualification for section 8 is different, and uses a different income threshold plus an asset test.
Can you draw disability and Medicaid?
Yes; however, if your disability income exceeds the threshold in your State, you will have a "spend-down."
What are the qualifications for a federal tax refund?
You qualify for a federal tax refund if you have reached the tax reporting threshold and filed for income taxes. The tax reporting threshold varies depending on your age and marital status.
What is the poverty threshold?
The "poverty line" is the level of income that separates the people who live in poverty from everyone else. It is not an official line and no specific income has been established as the "poverty line". It is an expression used in conversation to replace the lengthy expression "the level of income that separates poor people from people who are not poor".
Do you have to file an income tax return over the age of 80?
There is no age limit on the requirement to file and income tax return. As long as you have more income than the filing threshold, you will be required to file a return, no matter what your age.
When do taxes start?
For wage earners: When you exceed a certain threshold of earned income. For taxpayers: Whenever you buy something in a store.
