What is the low income threshold for paying income tax ? – Business & Finance


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A self employed taxpayer would be required to file an income tax return if the net profit for the year was more than 400 and would have to pay the self employment taxes (social security and medicare tax) that would be due on the net profit and the net profit amount would be added to all of the other gross income on the tax return and taxed at the marginal tax rate.

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