Question by Christy: How much do you have to earn in profit in a small business to report it on your taxes?
I’ve been selling some of my crafts recently (a little here and there to friends), and I don’t want to get in trouble for making money and not reporting it. I’ve been thinking about starting a small business for my crafts and I want to know if there is a minimum amount of profit that must be made to be required to file taxes on it. Any advice??
Answer by Gerald S
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