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Self employment tax

How much can a self employed 66 year old female make before she has to file taxes

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2 Replies

Self employment tax

Your gender is irrelevant, so not sure why you mentioned it.   If you have even $400 of self-employment income you are required to file a tax return and pay self-employment tax for Social Security and Medicare.  

 

 

If you have self-employment income for which you will pay self-employment tax for Social Security and Medicare,  you will need to use online Premium software or any version of the desktop software download so that you can prepare a Schedule C for your business expenses.

 

 

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/...

 

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

 

https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-self-empl...

 

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
dmertz
Level 15

Self employment tax

The threshold is actually $433 of net profit because net profit gets multiplied by 0.9325 before the result is compared to $400 when determining if one is required to pay self-employment taxes.

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