Thursday, July 1, 2010

how much money are full time college students allowed to earn without paying taxes

how much money are full time college students allowed to earn without paying taxes?
im a full time college student in Nevada and considering another part time job, but if i earn too much money, im afraid it might ruin the setup i have going with my dependency on my parents insurance.
United States - 3 Answers
People's Answers, Critics, Comments, Opinions :
Answer 1 :
The same as other people. If your parents are going to claim your exemption, you can't earn more than $3,500
Answer 2 :
You still need to file your taxes and you will get it all back. I am not sure of the dollar amount but I have made some pretty decent money while working two jobs and got all my money back. (I'm a FT college student as well)
Answer 3 :
Being a full time student doesn't make the answer any different than if you weren't. If you make over $400 from self employment, or over $5350 from a job where taxes are taken out (that's the 2007 number - 2008 will be a little higher) you don't have to file a return. But just filing a return doesn't mean that you are not a dependent of your parents. If you provide over half of your own support, they can't claim you, but as long as you stay below that, you would still be a dependent and able to be on their insurance even if you did file a tax return.





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