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Starting a Business

As a teen attempting to start a company online, will I have to file a tax return?

min read
Opinions expressed by Entrepreneur contributors are their own.
As a teen attempting to start a company, you have more pressing issues than whether to file a tax return (and the answer is: If you're in business, yes, you have to file, even to declare a loss).

Generally, individuals under the age of 18 are not legally able to start a business in their own name; they need parental or guardian consent, or the involvement of a parent or guardian to do so.

Make sure you and your parents sit down with an attorney and an accountant before you get started; otherwise, if your business goes under, your parents might find they're saddled with some nasty (and unanticipated) obligations.

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