Question

Wages

Forum|Forum|4 years ago
October 27, 2021
1 reply
0 views

I’m the state of TN. How much money can you make before you have to report it to the IRS? Is it $400 or $600 dollars?

Your post is headed "Wages"---but are you asking about self-employment income? Are you working as an independent contractor? TN does not have a state income tax, so you must be asking about the federal filing requirements. If you make at least $400 as an independent contractor you are required to file a tax return and pay self-employment tax for Social Security and Medicare.

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

Who has to file?

http://www.irs.gov/uac/Do-I-Need-to-File-a-Tax-Return%3F

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

J

JandKit

Excellent answer was given to your question. If on the off chance you refer to other income:

No Tennessee State Income Tax

Tennessee is one of the seven states that does not impose an income tax. Taxpayers are not required to file a state return or pay tax on their wages and monetary bonuses. The only income subject to tax is investment dividends and interest. That includes stocks, bonds, and receivable notes and is taxed at a flat four percent rate for 2017.

Under this law, the first $1,250 in taxable income for Single filers is exempt from the tax (2,500 for joint filers). Taxpayers who make less than $37,000 annually and are over 65 years of age are also exempt from paying income tax on any earnings from investments.

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