Self Employed Income Taxes - How Much Self Employed Income is Required to File a Tax Return?

Self employed income taxes - How much do I have to earn in self employed income to be required to pay income taxes? What is the most I can earn as a self employed individual without having to pay income taxes? Do I have to file a tax return if I earn self employed income but am a non-filer? How much do I have to earn in my small business, independent contract work, self employment to have to file an income tax return?

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DISCLAIMER:
Ginny Silver and Retrospect Images, LLC provides content to Youtube for entertainment purposes only. It is the responsibility of the viewer to verify all information as information may be inaccurrate or outdated. Ginny Silver is not a CPA, attorney, insurance agent, lender, EDD or other government employee, or financial advisor and content in this video shall not be construed as legal, financial, tax, govermnent, or other advice. You are urged to contact a certified professional to help your individual needs. The content in these videos shall not be construed as tax, legal, insurance, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself.

[darrylbyrd]

Thanks for the response. I will take it from here. The Uber response was given because I saw a follower ask you. 1099 usually have to clear $600 to give a 1099 so I was not sure if the follower with less than $300 from Uber would need it. Keep on updating us. You are great.

[stevebrown]

Thank you again and again and again, you answer simple yet important questions that gov. Think is common knowledge, hope that makes sense thanks again

[paulmeranian]

thank you Ginny, as always excellent information !

[leahj]

Thank you Ginny for all your help. I received a email & text from BofA stating that funds have been deposited to my BofA debit card ...the funds were for the last two weeks of December. I hope this means that my account has been fixed. And everything will start moving forward. Also I will be filing my tax return soon, as soon as I get the 1099G from EDD. Maybe this will help me to get my $600 stimulus. Don’t know for sure yet.

[dee]

Can you post more about the self employment tax return thank you ur awesome help 🙏 ❤️

[tompatterson]

Not self employed currently but who know what can happen in this whacky world. Very informative. TY. Tom

[lauracarwile]

Thank You .... exactly what I needed to know 👏🎯💯

[ralphrodriguez]

I needed to hear this thank you Ginny

[Synthesist-zs]

Hi! :)

- Quick question -
Am I required to file my taxes in 2024., if I had in 2023:

-$0 in W2,

-$5.33 in 1099 (Uber - which by the way I don't even know why I received this 5 bucks in my bank account this year in July from them since I haven't worked in 2023 at all for Uber)

and

-1099-INT (which bank actually won't send the form to me since it's <$10) bank interest on my savings account $4.82 in total for entire 2023 year.
That's all my income in 2023! (so $10.15 income in total for entire year)

I currently owe IRS $0 as of March 2023 (all taxes were paid for all prior years)

Am I legally still required to file my taxes for 2023 in this particular case??


I appreciate your answer!

[teamHEEM]

Hey Ginny, I’m a part of the first phase of PUA claims that should’ve gotten the extension by today. Also, my UI claim was suspended due to fraud and I verified my ID on the 12th through a link from an EDD rep & again on the 15th through the email EDD sent me. A day or two later, I received a text from EDD stating that they were able to verify my identity, but my payments are still pending from the 27th to now. Any advice??

[CoffeeSA]

In 2020 i worked a w-2 job but also made only 260$ working uber. When i file my taxes do i have to report the uber income even though its under 400$?

[annettemontoya]

hi Ginny I just logged on to add to check for updates. apparently edd has been very busy because they implemented a income verification and ID verification to submit before you can open the claim and notification buttons. but there is an error message that comes up. so I have yet to see what. this is about

[kcloveonaleash]

As a self employeed person with venmo type payments, I have always filed( actually H.R Block CPA ) and guess what? I am so happy I had a tax return on record for 2019!😂

[SatishKumar-uzbz]

Hey! I got a text from EDD this morning saying My id has been verified, but my payments are still on pending 😭. How long its gonna take?

[curtisconn]

Hi genny today I got an actual text message from the EDD saying that they successfully verified my identity from what you've heard how long is it usually taking accounts to open after you've received a text message from the EDD itself

[MichaelHollon]

I started my own business mid 2020 but have not officially started doing business I've just started the business getting everything set up on the back end do I need to report that to the IRS since I have not made anything for my 2020 taxes I have not started doing business.

[emirdjunusaliev]

I certified three weeks from 27 December and already got payment for 3 weeks. Do i need verify ID.me in EDD¿¿ Thanks

[RosaFig-tb]

Ok, so is this year different? I heard if you make $600 or more as an independent employee then you do not need to file taxes? Is that correct?

[osvaldoreyes]

I called EDD 2hours ago for maximum benefits payed. She said it will automatically refill on th 24th and was not glitched. After the call i was able to certify with the balance still at zero so I did. Now it says maximum benefits payed again. Did I just fuck myself over.

[Laurita]

FURRY late with the 🥴...in these TAXING times, we appreciate your info!! (Omg lol 🤦🏻‍♀️🤦🏻‍♀️🤦🏻‍♀️)🤣