At 09:36 PM 4/12/2007, Johnny Johnson wrote:
>At 09:22 PM 4/12/2007, Andrew Fildes wrote:
>
> >What is interesting to me there is that there is no tax-free
> >threshold - if I earn $10 in a year in the US I'd owe the IRS a
> >dollar? That's harsh. Here there's a threshold of somewhere around
> >$6-7K where no tax is payable.
>
>Same here in the US Andrew. There's something called a Personal
>Exemption of $3,300 each for yourself, your spouse, and each
>dependent. If you work things right you can even get something
>called an Earned Income Credit where you pay no taxes at all but get
>some money given to you.
>
>Later,
>Johnny
Oh yeah, you also get a standard deduction of $5150 so the first
$8450 of a single persons income is tax free ($16,900 for a married
couple with no children).
Later,
Johnny
__________________________
Johnny Johnson
Cleveland, GA
mailto:jjohnso4@xxxxxxxxxx
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