I’m still trying to help out this elderly lady next door.
(age 80)
I can’t seem to find out how much money you can earn before you have to file an income tax report in Texas
She only makes $I039 per mo Social Security. $12,468 per year.
She has a few stocks, and withdraws a few thousand a year to survive.
Do you have to file at age 80?
How much can you make, including income used from stock dividends?
http://www.irs.gov/publications/p554/ch01.html
General Requirements
If you are a U.S. citizen or resident alien, you must file a return if your gross income for the year was at least the amount shown on the appropriate line in Table 1-1 below. For other filing requirements, see your tax return instructions or Publication 501, Exemptions, Standard Deduction, and Filing Information. If you were a nonresident alien at any time during the year, the filing requirements that apply to you may be different from those that apply to U.S. citizens. See Publication 519, U.S. Tax Guide for Aliens.
http://en.wikipedia.org/wiki/State_income_tax
Texas – no individual income tax but imposes a franchise tax on corporations. In May 2007, the legislature replaced the franchise tax with a gross margins tax on businesses (sole proprietorships and some partnerships were automatically exempt; corporations with receipts below a certain level were also exempt as were corporations whose tax liability was also below a specified amount), which was amended in 2009 to increase the exemption level. The Texas Constitution places severe restrictions on passage of an individual income tax and use of its proceeds.