Profiting while young

[Anonymous No.819666]

Alright, so I have an idea that I know will net me a few thousand dollars, but the thing is; I'm not 18. I know that 18 is "legal" age to start business related stuff because at that age you start paying taxes. But my question is, would I be able to go through with my idea before I turn 18 and if I do what will happen to the money? Will it be transfered to a trust fund? Will the government seize it or will it be refunded?

[Anonymous No.819784]

>>819666
What in gods name are you fucking talking about you retarded twat. Sorry I really had to get that out before I begin. You are asking us to answer a question without giving us the full question. What do you mean go through with your idea? What? So let me get this straight, you are worried that your idea is so good so fucking unique and original that it will instantly make you money. And then the government will magically come find you because you are hiding this shit ton of money you made and (Because it really must be a whole lot for the IRS to fucking hunt you down) then steal that said money. Son step back, and look at your question. And then ask yourself is this the question I want to ask.

[Anonymous No.819797]

>>819666

Just ask your parents to do it for you. Once you hit 18 you take care of all the assets.

Don't know about the taxes but I'm assuming you can do it under the age of 18. I mean I was able to file taxes when I was 16.

[Anonymous No.819992]

>>819797
Say I didn't want my parents even knowing because they'll take 100% of it, how would I go about that?

[Anonymous No.819994]

>>819666
Mods, plz ban this guy he is under the age of 18.

Also, you are fucking retarded and extremely idealistic. Fuck off. Get the fuck out of here. Come back when you mature.

[Anonymous No.819999]

18 is also the age you need to be to browse this website squirt.

[Anonymous No.820029]

Lol I started 2 online businesses at the age of 16. Nothing happened other than me making big bucks. Also fuck a taxes. Didn't start paying till I was 18 because fuck taxation without representation. Just do it you cunt. Chances are though your idea isn't going to be properly executed and you will fail anyway.

[Li_Sheng !n54GAoW8Vs No.820032]

>>819666
Alright little cumstain, you can be whatever age to run a business.
owning it is a different story. As a minor your rights are extremely limited in this regard. You will require the oversight of a trustee. Even if you disown your parents by becoming a ward of the state.
A trust is a legal contract that effectively divides up the rights of property. a trust fund is just the account for the trust. Trusts have 3 parts: grantor, trustee, and beneficiary
grantor writes the trust, trustee "owns" the trust, beneficiary receives benefits of trust.
you can be all of the above or just one or some combination of the above.


A business is a registered charter from the state. basically a piece of paper.

The money will be in a bank account. you'll want a separate one for the business.

Don't worry about any of this until you make at least $15,000

If its a serious idea it'll make that much but will have to be all in your name.

If it gets serious, you're gonna want to get a lawyer to draw up a trust, that's going to own the company, and hire an independent trustee ( a person who executes the rules of the trust) to file the paperwork have the trustee be the guy who signs on the dotted line but can only do so with in accordance with the guidelines you set forth in the trust. Do not pay lawyer until trust says exactly what you want. set up the business officially, and hire accountant, pay taxes. Have trust own business until 18th birthday but make trustee name you CEO and take a paycheck until then.

[Anonymous No.820063]

>>820032
thanks

[Just a man No.820068]

Being under 18 legally you can't contact. So you wouldn't be able to get a valid business license to use. However get your mom to undersign and your good