Like the title says, do I have to pay taxes as a self employed minor? I only use paypal and sell online. TIA.
2007-07-14 16:05:11 · 3 answers · asked by Jordan K 2 in Business & Finance ➔ Taxes ➔ United States
Yes, you should pay the taxes. Keep track of all your expenses though like business use of a home you can claim on your taxes, the cost of mailing like boxes and tape. Look at a Sch. C to get an idea of what you need to keep track of to deduct.
2007-07-16 02:20:30 · answer #1 · answered by momzadork 3 · 0⤊ 0⤋
Yes, you sure do, if you make $400 or more for the year in profits (what you sell the items for minus what you paid for them).
Age has nothing to do with whether you pay taxes or not.
2007-07-15 15:49:45 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
Yes.
Taxes have nothing to do with age. If you are self-employed, you have to file (and pay) if you make over $400.00.
2007-07-14 16:17:23 · answer #3 · answered by Wayne Z 7 · 6⤊ 0⤋