Income required for taxes

Aaro-n10234
Aaro-n10234 Member Posts: 1 Newcomer
edited March 3 in Filing my taxes

How much do I need to earn at a company to add it to my taxes?

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Answers

  • MatthewD
    MatthewD FreeTaxUSA Admin, FreeTaxUSA Agent Posts: 817 image

    Hi Aaron,

    The IRS says if you even earn $1 of business income, it must be reported on a Schedule C, which is part of your personal income tax return, Form 1040. However, you don't have to start paying Self-employment taxes on your Net Business Income until that threshold is $400 or more.

    For more details see the IRS webpage on Self-Employment Tax

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