If your taxable income is less than the Standard Deduction for your filing status or less than the Itemized Deductions, if greater than the SD, then you will not have a federal tax liability.
However, if you are self-employed and have a net profit from the self-employment you will owe Self-Employment taxes even if you do not owe federal income taxes.
Standard deductions for 2019
- Single - $12,200 add $1,650 if age 65 or older
- Married Filing Separately - $12,200 add $1,300 if age 65 or older
- Married Filing Jointly - $24,400 add $1,300 for each spouse age 65 or older
- Head of Household - $18,350 add $1,650 if age 65 or older
