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SRHorlings92
New Member

When To File Taxes

In the state of Oregon if you make under $5000 a year do you have to file taxes? My husband wants to file separately and we have three children. We own our business so the amount I make from doing our book work doesn’t even add up to completely $5000 a year basically enough to pay a minimal prepaid phone bill and car payment each month and that’s it. Unsure if I need to file taxes myself. 

2 Replies
DoninGA
Level 15

When To File Taxes

Go to this Oregon Department of Revenue website for the filing requirements in 2018 - https://www.oregon.gov/DOR/programs/individuals/Pages/file-requirements.aspx

 

2019 filing requirements have not yet been published.

VolvoGirl
Level 15

When To File Taxes

Your post brings up a lot more questions.  How is the business set up?  Is it a LLC or Partnership etc?  Do you file a separate Business return?  Like a 1120, 1120S or 1065?

 

Will you be getting a W2 or a 1099Misc for your pay?  If you are an owner you don't usually report payments to yourself.  If you and he report it as self employment you are not an employee of the company.  

 

And usually if you are married it is better to file Joint instead of separate.  Joint has the lowest tax rates and the highest Standard Deduction.  And you can lose several credits by filing separately.  like the

EITC Earned Income Tax Credit

Child Care Credit

Educational Deductions and Credits

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