Kids These Days! Child-Run Businesses And Taxes [INFOGRAPHIC]
I don’t know about you, but at 8 years old, I think I was most concerned with my collection of Lisa Frank stickers and folders. And at 13? Oh, forget about it. Anything that wasn’t Backstreet Boys – or real boys – barely grabbed my attention. But there are some young entrepreneurs out there who are securing patents, marketing products and raking in thousands of dollars in revenue, all well before they can drive a car.
Even if your kiddos are experiencing a childhood more like mine, they may host a lemonade stand this summer or sack groceries at the local store. In that case, we have a few things you should know too.
Do you run two or more businesses from your home? Learn from the experts at H&R Block how to claim a home business tax deduction for both on your tax return.
Are you facing debt as a self-employed person? Working for yourself may mean large investments and erratic income. Learn how to tackle the debt at H&R Block.
How does self-employment affect your tax rate? Learn how to file taxes for self-employment and get tax answers from H&R Block.
There are many benefits to separating your personal and business finances. Learn more with the tax experts at H&R Block.