Legal Question in Business Law in Florida
IRS question
I am a minor. I am beginning a small "business" where I resell "how to" books which I have purchased with all resell, reprinting and duplication rights. What is the most amount of money I can make in a given amount of time without registering my "business with the IRS and having to pay taxes on it. I have not started the resell yet.
Asked on 9/23/00, 7:13 pm
1 Answer from Attorneys
Joel Cohen
Joel M. Cohen,P.A.
Re: IRS question
Just because you are a minor, you are not exempt from income taxes. If that were the case, every child entertainer and prodigy would be a gold mine
for his parents. I have a prediction that you will bevery successful in your business if you stay focused.JMC
Answered on 10/23/00, 8:27 am
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