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Do I need to File a Tax Return?

4/22/2019

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It depends. 

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It depends on your filing status, your age and your income.  See below:
Filing Status
Age
Gross Income
Single
Under age 65
$12,200
Single
At least age 65
$13,850
Married Filing Jointly
Both under age 65
$24,400 
Married Filing Jointly
At least one spouse age 65
$25,700
Married Filing Jointly
Both at least age 65
$27,000
Married Filing Separately
Any age
$5
Qualifying Widow(er)
Under age 65
$24,400 
Qualifying Widow(er)
At least age 65
$25,700
Head of Household
Under age 65
$18,350
Head of Household
At least age 65
$20,000
Notice that you can be any age and  for Married Filing Separately with a Gross Income of $5.00
Also You need to File is any of the following apply:
  • If you owe special recapture tax like the homebuyer’s tax credit
  • Earned Household Employment Tax
  • If you owe the government for unreported tips tax
  • If you are Self Employed and net earnings is $400 or more (Income minus expense)

If you have any questions regarding this table please or any other tax needs, contact us.


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    Spencer Accounting Group, LLC does not provide investment, tax, legal, or retirement advice or recommendations in these blogs. The information presented here is not specific to any individual's personal circumstances.

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    To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.
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    These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable — we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

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    Author

    Keana Spencer is an Accountant, Entrepreneur, and Educator to her clients, with a strong passion.  Keana has over 10 years of experience and through her practice, she is a source of knowledge and strategies to her clients.

    Keana founded this website and decided and created this blog page to offer a space for those seeking knowledge to understand, however not to be confused with advice or planning strategies.

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