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If you have income from self employment of $400 or more for the year, you must file a return with the IRS to report that income.
Thank you muggles
Hello again Muggles,
Whether you receive cash or checks, it all must be reported, as long as you have more than $400 in earnings from self employment. If you are a single person with no dependents, then you would not actually owe any income taxes unless you had $9,350 or more in income for the year. But income from self employment is not only subject to income tax, it is also subject to SS and Medicare taxes, which is why it must be reported if you have earnings of $400 or more for the year.
Thank you Muggles