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

How do I file, and do I need to file if I only make a certain amount of money in New Jersey?
  • ---Shares
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.

Find the Right Franchise for You

Complete our short quiz to pinpoint your perfect franchise match.
Find Your Franchise
OK

This website uses cookies to allow us to see how our website and related online services are being used. By continuing to use this website, you consent to our cookie collection. More information about how we collect cookies is found here.