I am super confused about taxes and freelancing. I tried to do some research but just got more confused.
First off, I use sites like Elance, oDesk, and working through email. I have a PayPal account. I don't charge much per given project (I am a graphic designer). On average I probably make only $350 - 400 a month.
How do I go about reporting these small jobs to the IRS, or do I even have to report my income if I use Elance?
If I do have to report them, how much will I have to pay back, and how much should I save?