Tech enthusiast studying ICT and graduating soon enough👨🏿🎓. Software Engineer in the making, experimenting my way through life. I'm here to connect, learn from y'all and share my knowledge.👊🏿
Making pocket money is alright. But full fledged freelancing at the age of 13?
Sure, making some pocket money with a simple job (after school hours) is not a problem. But freelancing is a whole other ballgame, that is something serious that deals with contracts and responsibilities a kid has no idea of.
If a teen makes thousands of bucks working, the first thing I wonder is: are you paying taxes?
That is a million-dollar question right there 😅. Should they pay taxes like everybody else or because they are underage they are pardoned?
Good advice there, chill out there is no need to rush growing up.
From my experience, working teens do pay taxes! Less than an adult and you typically get a good chunk back at refund time, but I remember that first paycheck that was smaller than I expected.
Freelance work does make it more messy, though. When I was working fast food at 14/15, I just had to have my W4 filled out correctly and my employer deducted taxes. I haven't done freelance so I haven't done those taxes myself, but folks I know that have done it have found themselves annoyed with quarterly payments and whatnot.
Tech enthusiast studying ICT and graduating soon enough👨🏿🎓. Software Engineer in the making, experimenting my way through life. I'm here to connect, learn from y'all and share my knowledge.👊🏿
A lot of my peers did either work as waiters or in fast food restaurants and I think it's just like you said here too.
but folks I know that have done it have found themselves annoyed with quarterly payments and whatnot.
That's what I would expect tbh, they don't really have the know-how plus taxes & contracts are a pain do deal with. (unless their custodians explain that to them or take care of that)
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Sure, making some pocket money with a simple job (after school hours) is not a problem. But freelancing is a whole other ballgame, that is something serious that deals with contracts and responsibilities a kid has no idea of.
That is a million-dollar question right there 😅. Should they pay taxes like everybody else or because they are underage they are pardoned?
Good advice there, chill out there is no need to rush growing up.
From my experience, working teens do pay taxes! Less than an adult and you typically get a good chunk back at refund time, but I remember that first paycheck that was smaller than I expected.
Freelance work does make it more messy, though. When I was working fast food at 14/15, I just had to have my W4 filled out correctly and my employer deducted taxes. I haven't done freelance so I haven't done those taxes myself, but folks I know that have done it have found themselves annoyed with quarterly payments and whatnot.
Good to know! I mean, they might as well😂
A lot of my peers did either work as waiters or in fast food restaurants and I think it's just like you said here too.
That's what I would expect tbh, they don't really have the know-how plus taxes & contracts are a pain do deal with. (unless their custodians explain that to them or take care of that)