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[OM] Re: [OT] US taxes, was: [ot] alternative fuels

Subject: [OM] Re: [OT] US taxes, was: [ot] alternative fuels
From: Johnny Johnson <jjohnso4@xxxxxxxxxx>
Date: Thu, 12 Apr 2007 21:36:26 -0400
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

__________________________
Johnny Johnson
Cleveland, GA
mailto:jjohnso4@xxxxxxxxxx 


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