The better practice, when negotiating a physician employment agreement, would be to NOT automatically assume, in laying out the effect of termination, that termination without cause means the employee is without fault. Instead, the employer would be better served in taking a more hard-line approach. For example:
If you are single and under age 65, you can earn up to $9,499 in a year and not file a tax return. Should you be 65 or older, you could earn up to $10,949 and be exempt from filing a federal tax return. However, you may qualify for an Earned Income Tax Credit, which is refundable in cash to you. Also, if you've had income taxes withheld, you should file to receive a refund of your money. Married Taxpayers Filing Jointly If both married taxpayers are under 65, they can earn up to $18,999 and not need to file a return.
Does this mean that if Iâm a freelancer and single, I donât have to file if my gross income is less than $10,400? No. If you are a freelancer, the minimum you need to file a tax return is none of the above. The amount of money you need to earn and to file a tax return is $400. Yes. That is not a misprint. It is $400. To be clear, this is not true of the group of people who call themselves freelancers and who are paid on W-2âs.