Under 18, Do I have To Pay Income Tax (USA)

Hey,

I am a freelance tech blogger, I make roughly $300 a month and I'm under 18. Do I have to pay taxes?

Thanks so much,

Andrew.

Everyone, and I mean everyone has to pay income taxes.

Andrew

The threshold of what you can earn without reporting is pretty low: $400 per year.

The IRS has a "young entrepreneurs" page, where you may find additional information you need.

http://www.irs.gov/individuals/stude...177689,00.html

see also http://www.irs.gov/individuals/students/index.html

(That is assuming you're also a student.)

Also, talk to a tax consultant. I generally go to HR Block. They know a ton about tax law and will get you the best return possible.

I never did dude. I say you're good but don't put my name out.

Originally Posted by GM-EGS I never did dude. I say you're good but don't put my name out.

That is very dangerous advice, the IRS will audit minors if any red flags are raised. Sometimes they wait until they contact you, I've known people who went years without paying income tax and the time they did the were informed that they owed tens of thousands of dollars.

Thanks for all of your help!

Add to that the fact that failing to file is a federal offense with jail time. So, not only will you owe to money to the KGB-er, I mean, the IRS, you can go to jail. Not worth it IMHO.

Yipes! The IRS are the wrong people to mess with. Better to pay your taxes when they're due and move on with your life. And going to H&R Block is great advice.

If you apply for anything like the FSFSA they will come looking for you if you don't pay taxes since your on their radar now.