How Much Do You Have To Make To File Taxes

This video is sponsored by TurboTax. If you're not sure whether you need to file your taxes, check out TurboTax and you can find out for yourself!

Here's what we're talking about in this video:

▶︎ What is the standard tax deduction?

▶︎ What are the income levels and thresholds to file?

▶︎ Does it matter if you're a dependent?

▶︎ How do Social Security benefits impact this?

▶︎ Why you still may want to file a tax return even if you don't have to!

★☆★Resources Mentioned in this video:★☆★

★☆★ Want More From The College Investor? ★☆★

[Quartzleo]

Wild how self employment suddenly makes your taxable income a minimum of 400.

[Valhalla]

Wasn’t taught this in school BUT I KNOW WHAT X EQUALS

[luislazo]

What if I have no income for the year and I lost money in the stock market do I still have to file taxes?

[jlbarcenas]

Single mom made $3, 000. Earned income one dependent in California.. can she file will the IRS allow it. Turbo tax allowed it with her as head of household. Wonder if it will get rejected

[jay-tpls]

Hello I’m only 16 and I started working a part time job and I have no idea if I have to make my taxes

[simple_acount]

Hello! I'm a bit confused on the self-employment part. If you qualify as self-employed, do you absolutely have to file taxes if you earn less than $400 or is it optional?

Also, is it a good idea to file taxes regardless? Whether you be self-employed or not for any income?

[Jonathan-wkhl]

If i am self employed but made negative gains on my stocks would i have to file taxes on it?

[ZaZa-cuft]

I'm working as a camp counselor at a summer camp for this summer. The pay is $130 a week. Do I have to pay taxes? I'm so confused

[goodluck]

I am collecting SSI, retirement income plus rent. After the expense of the real estate tax, repairs, titles, and deprecation deduction. My gross income has been under the standard deduction for the last 4 years. This year, it seems like in the same situation. Should I still file income tax? I have no tax withholding to be claimed.

[Jud_]

I’m 18 and I’m working part time and I’m dependent and I’ve made less than 4K this year and I’m super confused abt what to do, any help ?

[nihaalzaheer]

ok so what if u are 16 years old doing a part time job do u have to file taxes i mean at most i would be making is like 9, 000 end of year maybe

[justleo]

If I do door dash, how much do I need to make to pay taxes? Or how much d I need to make so I don’t have to pay taxes? 🤔

[lisamalcolm]

How to file taxes if paid under the table, not my choice my employer is paying me cash. Prob so she can get out of taxes . But I want to make sure I’m covered. Help

[tyrese]

I live off of disability and get around $1200 a month. Still not sure if I need to pay taxes.

[abcxyz]

+The College Investor
Hello, I have a single member LLC I formed last year. I haven't made any income on it yet but I did have expenses in 2020. I filed for an extension to OCT 15. Do I have to file? Great content thank you

[swervv]

If I only worked for like two weeks do I have to do my taxes?

[experimentalinvestor]

Is stock market gains considered self employed income?

[Highlikeheaven]

When filing single, would you include any state assistance (ebt)? Child support received?

When it comes to being self employed - if you sell art via social media here and there but you arent "officially" self employed, do you still file?

[goblinninja]

At what age do you need to start paying taxes so for example if you are getting paid at 16 or you are freelancing at 16

[Lady-brzy]

Turbo tax is not free, it’s just a marketing tactic. You pay in the backend.