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US Tax Help w/ Minor?

Discussion in 'Business & Tax Advice' started by jamesjr7, Jul 5, 2009.

  1. jamesjr7

    jamesjr7 Registered Member

    Jun 5, 2009
    Likes Received:
    Hi everyone. I am going to be a senior in high school next year (17yrs old) and am making about 1k-2k a month through affiliate marketing plus anything I make at a giftshop I also work at. For the past three years, I have just filed taxes under my SSN and paid whatever was due (in April it was $3k owed). I have glanced over making a "business" or whatever but it seems like a real hassle with paperwork and such and my parents do not like the idea of that. What is your reccommendation? I did get a tax id (EIN) from the IRS website this year, but as far as I know, I still have the claim the taxes under my SSN during tax time. Should I go see a lawyer or an accountant (which one if so?)? It is not like I am not paying my taxes or anything, but I would love to lower the amount of taxes I pay which would be my main motivation is starting a company.

    Oh, I also outsource my work to three people in India. They work for like $3 an hour and one of them is always working between 7am-9pm. I do not know if that affects anything or not, but there you go.