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.

More from Entrepreneur

Dustin's experience and expertise can help you monetize your message, build a marketing strategy and connect with influencers.
Book Your Session

For a limited time only, get this bundle of Entrepreneur PressĀ® titles for less than $30 (60% OFF) on our bookstore when you use "LEAP" at checkout.
Buy Now

Are paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.
Get Your Quote Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.