Employment

Hello,
I am 19 years old and full time dependent student from Texas.
If I register and open up a business can I still be considered a dependent? Is there an earning limit?
What’s the amount I have to earn in order to start filing taxes?

posted

You pay self employment tax on self employed net income over $400. You pay income tax on net income over $12,200. Regarding dependency, if you are not a full time student you can be claimed as a dependent if your parents provide more than half of your support. So if you saved your income and let your parents support you, they could still claim you.