Potentially Stupid Question

I'm interested in doing freelance art to get some extra cash on the side. I read on TurboTax's website that the tax threshold for freelancers is $2,500. If this is the case, does this mean I can work freelance until I make $2,499 and not have to do anything tax wise, or is there any other read tape I should know about before looking for clients? Thanks for the help.