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    Teenagers, and college students that work part time, maybe just weekends or just a few hours a week, there is a way to give yourself a ten to fifteen percent pay raise.

    Do you know that if you are still in school, working part time, you may not need to file annual Federal taxes? This is not about some kind of tax dodge or cheat or funny scheme. This is simply the rules.

    But first, before you do this, you need to do a little calculation first or you may get an unpleasant surprise next spring at tax time. You should calculate or estimate your expected income for the year. Later if your income changes, you can change how you report as well. Let’s do a little estimation in the mean time. If you expect your end of the year income to be no more then $8450, then this article is for you.

    First of all many people have the misconception that just because you live and work in the United States of America, the greatest nation ever conceived by man, you are required to file a tax report, that is not correct. There is nothing in the tax code that says, “Every one must file a tax report.” What it does say is something

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    art time, you may not need to file annual Federal taxes? This is not about some kind of tax dodge or cheat or funny scheme. This is simply the rules.

    But first, before you do this, you need to do a little calculation first or you may get an unpleasant surprise next spring at tax time. You should calculate or estimate your expected income for the year. Later if your income changes, you can change how you report as well. Let’s do a little estimation in the mean time. If you expect your end of the year income to be no more then $8450, then this article is for you.

    First of all many people have the misconception that just because you live and work in the United States of America, the greatest nation ever conceived by man, you are required to file a tax report, that is not correct. There is nothing in the tax code that says, “Every one must file a tax report.” What it does say is somethin

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    t or you may get an unpleasant surprise next spring at tax time. You should calculate or estimate your expected income for the year. Later if your income changes, you can change how you report as well. Let’s do a little estimation in the mean time. If you expect your end of the year income to be no more then $8450, then this article is for you.

    First of all many people have the misconception that just because you live and work in the United States of America, the greatest nation ever conceived by man, you are required to file a tax report, that is not correct. There is nothing in the tax code that says, “Every one must file a tax report.” What it does say is somethin

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    tion in the mean time. If you expect your end of the year income to be no more then $8450, then this article is for you.

    First of all many people have the misconception that just because you live and work in the United States of America, the greatest nation ever conceived by man, you are required to file a tax report, that is not correct. There is nothing in the tax code that says, “Every one must file a tax report.” What it does say is somethin

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    tes of America, the greatest nation ever conceived by man, you are required to file a tax report, that is not correct. There is nothing in the tax code that says, “Every one must file a tax report.” What it does say is something like; everyone who owes taxes must pay them by first filling a tax report.

    So what does it take for an adult not to have to file taxes? The clue is printed on IRS form 1040EZ on line 5. This is what it says: “If no one can claim you (or your spouse if a joint return), enter $8,450 if single; $16,900 if married filing jointly.”

    The magic to those numbers is this; you take your expected “earned” income then subtract the $8,450 if single. If what you get is a negative number then you wont owe taxes and wont need to file, if it is a positive number then you “may” owe taxes on the amount remaining and “may” have to file.

    There are a few issues that you need to understand before you act on this. The most important one is to understand where the figure $8,450 comes from. The $8,450 is actually two numbers added together, the “Standard Deduction,” and the “Individual Exemption.”

    Th

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