DO I NEED TO PAY TAXES?

This video is about the basics of filing tax returns. It targets people like Ray, an incoming senior at state university who just finished up a summer internship and made a significant amount of money. The video explains whether Ray needs to file a tax return and how to find out.

Here are the 3 key things you will learn in this video:

  • The general rule to determine if you need to file a tax return: If your income exceeds a certain threshold, you will need to file a tax return. The video mentions the threshold in 2015 for single independent individuals is $10,300.
  • What is considered gross income: The video explains that gross income includes all major forms of income such as earned income and unearned income.
  • How to use the IRS tool to decide if you need to file a tax return: The video introduces a tool provided by IRS that can help people decide whether they need to file a tax return.

 

Share This Post

Subscribe To Our Newsletter

Get the best tools, tips, podcasts, book picks, and free resources to thrive as an adult! Don't miss out, sign up today!

More To Explore