How much money can I make from an online business before I have to claim it on my taxes?
I write with Associated Content, and I am looking to start a *very* small web design company. How much money am I allowed to make before I have to actually start a business, verifying with my state, claiming on taxes, etc? I don’t want to make too much and be pushed into that.
If you make $400 or more for the year, you are responsible for federal self-employment taxes on your income.