Ok then tell me at what age should he report his income then?
I know when i had a job at the age of 15 i sure as heck paid taxes.
Why shouldnt he?
Secondly my post wasnt aimed at the op but more so at the people saying dont worry about insurance or taxes.
Also what difference does it make if your 17 or 40 and starting a business.
I would think the same rules apply especially seems how he will be 18 in less than a year.
What happens when a rock shoots outa the mower and seriously hurts someone?
Im pretty sure his parents wont be to happy with that lawsuit.
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My point is that he is starting a high school business. If he is (or his parents are) worried about a lawsuit, they will undoubtedly help him out. But trust me, coming from a 17-year-old, it's a lot harder than "go out and get insurance/file business materials." I did a cost-benefit on it... after advertising, vehicle insurance (that is, if they'd even let me have it... typically you have to be ~25 before you can drive on commercial insurance
), liability insurance, and business filing, i'd surrender at least
66% of what I'm making.
The problem is that I can't do enough volume to justify it.
tl;dr he's a minor. OP, do what you can. If your parents don't believe that you'll do much the first year (believe me, mine didn't), they'll :nono: when you ask for commercial insurance, financing, or any of the other fun things that go along with running in this business.