1. Tax Returns Who has to file tax return by 4/15/2014? Federal State
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Tax Returns
Who has to file tax return by 4/15/2014?
Only if you made more than certain amount in 2013
Federal
State
Living w/ parents
Single, on your own

2. From Federal Tax Instructions
Living on your own, no $$ support from parents = have to file if earn (Single) $9,350 or more
(Married) $18,700
From Federal Tax Instructions

3. From Federal Tax Instructions
If someone claims you as a dependent, like a parent, then have to file if you earn $5,700 or more
From Federal Tax Instructions

4. Tax Returns Who has to file tax return by 4/15/2011? Federal State
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Tax Returns
Who has to file tax return by 4/15/2011?
Only if you made more than certain amount in 2010
Federal
State
Living w/ parents
$5,700
$5,700*
Single, on your own
$9,350
$14,622
How Does Filing Work?
Gross Income (the total $ you earned)
$8,320
-$200
Subtract Deductions
- $100
- $1,000
Taxable Income
$7,020

5. How Does Filing Work? $8,320 Subtract Deductions -$200 - $100 - $1,000
Gross Income (the total $ you earned)
$8,320
Subtract Deductions
-$200
- $100
- $1,000
Taxable Income
= $7,020
Times Tax bracket rate
x .10
Amount of taxes owed
= $702
2 ways to pay taxes
Save it yourself and send check in April, or have it taken out of your paycheck

6. 2 ways to pay taxes
Save it yourself and send check in April, or have it taken out of your paycheck
W4 form – Form that tells employers how much to take out of your check for taxes

7. FIRST NAME LAST NAME SS# HOME ADDRESS DIFFERENT NAME ON SS
SINGLE OR MARRIED
DIFFERENT NAME ON SS
3 BOXES YOU DON’T UNDERSTAND WHAT THEY ARE ASKING
THE SAFE ANSWER IS 0,0,BLANK
BOX 5 = how many allowances (how many deductions will you have when you file your taxes?)
BOX 6 = additional amounts you want taken out
BOX 7 = if you are exempt from all federal income taxes

8. 3 BOXES YOU DON’T UNDERSTAND WHAT THEY ARE ASKING
FIRST NAME
LAST NAME
SS#
HOME ADDRESS
SINGLE OR MARRIED
DIFFERENT NAME ON SS
3 BOXES YOU DON’T UNDERSTAND WHAT THEY ARE ASKING
Why 0,0, blank ?
They will take out the full amount, then when you file you’ll probably have deductions = you’ll get a refund
If you put more than 0 then if you didn’t calculate correctly, you may get a bill at the end.

9. Safe answers are 0, 0 ,blank 2 ways to pay taxes
Save it yourself and send check in April, or have it taken out of your paycheck
W4 form – Form that tells employers how much to take out of your check for taxes
Safe answers are 0, 0 ,blank
Federal Forms: called 1040EZ, 1040A, 1040
State Forms: called 540EZ, 540A, 540
You can get forms at the post office or online

10. You had income tax withheld from your pay.
Even if you do not have to file, you should file a federal income tax return to get money back if any of the following apply:
You had income tax withheld from your pay.
You qualify for the earned income credit.
You qualify for the additional child tax credit.

11. Safe answers are 0, 0 ,blank 2 ways to pay taxes
Save it yourself and send check in April, or have it taken out of your paycheck
W4 form – Form that tells employers how much to take out of your check for taxes
Safe answers are 0, 0 ,blank
Federal Forms: called 1040EZ, 1040A, 1040
State Forms: called 540EZ, 540A, 540
You can get forms at the post office or online
W2 wage and tax statement – receipt that tells you all the info you need to fill out your tax forms. Employer gives it to you in Jan/Feb