So, I recently decided to start my journey into being an officially self-employed artist. Working 5 days a week to get the commission work done so I can make average pay like I did when I had a government job.
My first question is since I make over $600 in one tax year, do I need to contact someone and verify my business? What do I need from Paypal to send to the government to file my taxes? I don't want to get in trouble for not verifying this stuff.
I already know I need to calculate in the self-employment tax rate of 15.3% for Kentucky.