Hello,
I am a young disabled adult who wants to create and run my own handmade jewelry business out of my home.
It will be a sole proprietorship and will be an online store (I will build my website and do all updates/upkeep myself).
I receive SSI for my disability (I know I have to report my earnings to SSA when I start to earn). I do not pay for Medicare through a government program. I live in an "apartment" that is part of the home my parents own, and I pay rent to them (don't know if it is relevant or not).
I know that I will have to pay self-employment taxes if net earnings are $400 or more. I also know I have to pay taxes on income in general.
My question is, does the IRS require an income tax form for any amount, or is there a minimum threshold?
I appreciate any help you can provide.
