However, let's not forget self-employement taxes and self-incorporation. Kid's gotta pay his part of the Medicare and Social Security so the rest of us have money to retire on... And also, I'd hate to have him audited and hauled off to the Big House for non-payment of taxes.
Although... his purchase of games may be a tax-deduction... He could charge $25/hr to 'coach', but there's practice time, learning new games, upgrading his hardware...
I'm definitely seeing business opportunity, if done right!
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Service jobs for an 8 year old? Sheesh.
However, let's not forget self-employement taxes and self-incorporation. Kid's gotta pay his part of the Medicare and Social Security so the rest of us have money to retire on... And also, I'd hate to have him audited and hauled off to the Big House for non-payment of taxes.
Although... his purchase of games may be a tax-deduction... He could charge $25/hr to 'coach', but there's practice time, learning new games, upgrading his hardware...
I'm definitely seeing business opportunity, if done right!