At what point should you file taxes for a side business?

When starting a side business, it's important to know when to file taxes for it. Generally, taxes must be filed for a side business when the business has earned more than $400 in profit. Other factors can affect when taxes must be filed, such as operating a home business or hiring employees. Business owners must also consider their tax filing status, as this will determine which forms are used to file taxes. Additionally, deductions for business expenses can help to reduce the amount of taxes owed. Knowing when to file taxes for a side business can help to ensure that all tax obligations are met.