You can file as a schedule C and there may be benefits to you for filing the losses and business deductions. But after about 3 years of loss, the IRS would like you to file the company as a "hobby" and not a schedule C business. But they understand, especially during this time, that there will be losses that can be temporary. I'm not sure that you "need" to file, but it might benefit you to file anyways. I'm just a regular person who is answering just from personal knowledge. Hopefully some real tax person will jump in and help answer this better for you but just thought i should share what i know since there were no other answers. good luck!
Does low income retiree need to file income tax?
yes
Absolutely. If you have more than $400 in income from self-employment (i.e. being a contractor) you need to file.
There is no need to file an income tax return if you had no income. That said, there was a year when senior citizens could claim a tax credit by filing even if they had not income so your question is valid. For 2010 though, as the rules stand today, you don't need to file.
You need to file tax form 1065 if your income is the result of a partnership. If your income is split between business partners, this is probably the form you will need to fill out.
Does low income retiree need to file income tax?
Yes
yes
Absolutely. If you have more than $400 in income from self-employment (i.e. being a contractor) you need to file.
There is no need to file an income tax return if you had no income. That said, there was a year when senior citizens could claim a tax credit by filing even if they had not income so your question is valid. For 2010 though, as the rules stand today, you don't need to file.
Yes, college students need to file income tax if they have some manner of income during the year, such as from a part-time or summer job.
Yes. If there is a substantial change in income the order can be modified. You need to file a motion for modification at the court with jurisdiction.Yes. If there is a substantial change in income the order can be modified. You need to file a motion for modification at the court with jurisdiction.Yes. If there is a substantial change in income the order can be modified. You need to file a motion for modification at the court with jurisdiction.Yes. If there is a substantial change in income the order can be modified. You need to file a motion for modification at the court with jurisdiction.
Yes you can file income taxes on $945.00 that you earned.
Do i need to file income taxes ,workmens comp did not send me a 1099? I did not file last year 2007 because i asked workmens comp. for a 1099 they did not send ...so i assumed i did not need to file. Can i file both years?
You need to tell them to file their federal income taxes before April 15 I believe, here is the website check it out www.irs.gov/ that should show you when to file
Intrest made on income is income, and as such, should be reported on your 1040.
You need to file tax form 1065 if your income is the result of a partnership. If your income is split between business partners, this is probably the form you will need to fill out.