Who needs to file income taxes?

Who needs to file income taxes?

John Stoller, CPA (Certified Public Accountant) gives expert video advice on: What do I need to know about taxes?; Who needs to file income taxes?; Why are the tax laws so complicated? and more...

If you are over 14 years of age and earn over $8,500, you'll need to file an income tax return. If you have children under the age of 14, and they have more than $800 in unearned income - that's interest, dividends, capital gains, rentals - then that income over $800 is taxed at the parent's rate. If they earn money in a part time job, that's earned income and that is not taxed at the parent's rate.