March 18, 2014
David Glusman, Advisory Services Partner, Featured in Yahoo Finance Article, "Do I Need to Files Taxes if I’m Claimed as a ‘Dependent’?"
Yahoo Finance
Excerpt:
I only made $2,787 this year working 4 months at a retail store. Am I required to file my taxes? Not only that, but my mother claimed me when filing her taxes. I’m 19.
Answer: Generally, a dependent child taxpayer who makes under $6,100 does not have to file a return. But you may still have a reason to file, like if you had federal taxes withheld from your wages, and want to get a refund, or if you’re entitled to the earned income tax credit, says David H. Glusman, a CPA in Bala Cynwyd, Pa. And your state may have different rules from the federal government as well as lower thresholds for filing.
