Not "losing" a portion of your paycheck to income taxes may sound nice to some, but it's not a luxury. Millions of Americans don't owe taxes on their income and aren't required to file a tax return because they don't earn enough money. And some taxes are certain for everyone, regardless of income, including sales taxes, excise taxes, and property taxes. 2024 filing requirements based on income and filing statusEvery taxpayer is entitled to an annual standard deduction — a portion of income not subject to income tax. In addition to helping build the vertical from the ground up, she helmed a biweekly advice column answering readers’ personal finance questions and launched a personal finance newsletter.

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