Liability & Legality

**Sygon** · 08-06-2006, 09:18 PM

Title says it all.

**imported_Max** · 08-06-2006, 09:27 PM

Any age, as long as you bring in enough of an income.

**ltn1dr** · 08-06-2006, 09:41 PM

Yup, any age.

I'm 16, pay taxes.

**imported_DaveTurnbull** · 08-06-2006, 09:42 PM

I'll be payin taxes soon (I'm 16)
gettin a tax ID is a ***** tho :P

**NavySeals91** · 08-06-2006, 09:44 PM

You know there is student exemption right?

**Sygon** · 08-06-2006, 10:19 PM

So your saying a 13 year old has topay taxes if hes earning quite a bit? (UK)

**matrixlover** · 08-06-2006, 10:20 PM

Isn't your Tax ID your Social Security number? That's what I heard it was. Fortuntely I don't make enough so that I have to pay taxes

**Sygon** · 08-06-2006, 10:44 PM

Well im fine then as were in the same group =D (hopes) :detective:

**imported_DaveTurnbull** · 08-06-2006, 10:47 PM

Quote:

Originally Posted by matrixlover

Isn't your Tax ID your Social Security number? That's what I heard it was. Fortuntely I don't make enough so that I have to pay taxes

well i don't even know what a SSN is :P
but i'm Aussie, so i'm pretty sure it's different over here

**ltn1dr** · 08-07-2006, 01:23 AM

LOL, doesn't matter how much you make dude.

If you make $100 via adsense and your 5 years old, you have to pay because your a dependant.

Now if you're parents weren't claiming you as dependants.....

**OneCode`Henry** · 08-17-2006, 04:07 AM

lets keep the minimum 18

**adambeazley** · 08-20-2006, 01:40 AM

I dont know about yall, but I have never "paid" taxes. They just take them!

**michaelPTG** · 08-20-2006, 03:37 AM

Trouble getting a tax id???

I've never had trouble getting a tax-id...they're pretty easy, and the IRS even makes the form available online:

www <dot> irs.gov/pub/irs-pdf/fw9.pdf?portlet=3

(don't have 15 posts yet)

I'm not comfortable using my SSN where I can avoid it, so I use the tax-id instead.

For those of you that are young and wondering about paying taxes...if your parents use a CPA or financial advisor it would be worth speaking to him about it...they have different legal techniques for sheltering income in these situations. Also, if you're planning on attending college and you want loans and/or grants, your independent earnings will impact your eligibility for these funds. Once again, speak to a financial advisor or a CPA.

Michael

**Next** · 08-20-2006, 04:01 AM

Your age does not matter when it comes to taxes. Income is income, if you make it then Uncle Sam wans his share of it. If your bank account has a lot of activity with large numbers that can throw a red flag if you don't show something on your tax filings, and if you make any money and the company reports it to the IRS at the end of the year (Adsense, Yahoo, etc.) than you better list those on your taxes... or you're going to have 7 years bad luck in auditing, lol.

**imported_mattd** · 08-20-2006, 11:37 AM

Quote:

Originally Posted by Sygon

So your saying a 13 year old has topay taxes if hes earning quite a bit? (UK)

Hi if you are in the UK you have to pay taxes whenever as far as I know - common misconception is that students dont pay taxes. Sorry but you do!

However, you only need to start paying tax when you are earning more than the tax threshold each financial year (i.e. April to April). The limit is currently something like £4750 per year IIRC. After that any additional money is taxed at 10% up to about £9K, then any additional is 22% and so on.

So if you are making £5K a year, you'd be paying tax of 10% on £250 and so on (obviously check out the real figures from the Revenue).

I'm not sure about how you'd go about doing this though - there is an anonymous tax advice helpline you could call. I'd imagine that you'd be able to set your self up as a sole trader. Whatever you do, make sure you keep records of what you've earnt (i.e. records of what money you've actually got and paid into the bank) and when you got it and from where.

**againes** · 08-20-2006, 12:35 PM

Quote:

So your saying a 13 year old has topay taxes if hes earning quite a bit? (UK)

Ring the inland revenue, I dont think anyone is exempt from paying taxes in the uk regarding age.

**thedrooling** · 08-20-2006, 05:51 PM

Anyone know what the situation is for canadians? So lets say Billy is 15 and hes earning $100+ monthly, does he have to pay taxes?

**tntcheats** · 08-21-2006, 05:53 AM

My friend's been paying taxes since he was 11 or 12. I'm Canadian.

**thedrooling** · 08-22-2006, 06:46 PM

Oh ok.

Heres another question thats pretty off topic....do you have to be a certain age to use azoogle ads?

**johniman7** · 08-22-2006, 11:39 PM

While we are on this topic, will adsense automatically take the proper taxes out? I am not having any taken out right now but maybe because I am not making a whole lot.

I am also working a job ( one of those where you have to leave the house and actually work ) and they automatically take the taxes out. Do I need to do anything with my adsense earnings?