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Can a 17 year old file self-employment taxes?

Sebastian Wright

A minor must file, for example, if he owes Social Security or Medicare taxes on tip income. In addition, if he earns income from self-employment, he may owe Self-Employment Tax, which means paying both the employee’s and employer’s share of Social Security and Medicaid taxes.

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Can I be exempt from self-employment tax?

To file Form 4361 for exemption from paying self-employment tax, an individual must be an ordained, commissioned or licensed minister of a church, Christian Science practitioner or member of a religious order who has not taken a vow of poverty.

Do you have to pay taxes on self employment?

If your child is entrepreneurially inclined he may also be responsible for paying self-employment tax. A summer job or lemonade stand can come with tax responsibility, regardless of the wage earner’s age or intentions. The IRS requires any minor earning more than $5,700 in a given tax year to file an income tax return.

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When does a minor have to pay self employment tax?

If, however, a minor earns income that accounts for more than 50 percent of his total support, including rent, food and clothing, than that child is responsible for paying self-employment tax.

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How to pay tax for a 17 year old?

Tax for 17 year old…. Hiya! Please take pity on a 17 yr old trying to sort out finances! I’ve looked through the threads and can’t find my answer so sorry if it’s been asked already! Ok, through my work in a shop I earn 3000 and through self employed work I earn 3000 a year, so I usually get 6k a year. How to I go about tax, NI etc.

Are there any tax exemptions for employees younger than 18?

The same SE exemption for employees younger than 18 is also allowed for: Instead of starting a new enterprise, some youths opt to go into the family business. In addition to having the inside track with the boss, this work situation might provide some tax relief for the employing parents, as well as the young worker.