Quote:
Originally Posted by simplepeddler
I am considering starting a small business where I will be selling un-wanted and out dated inventory.
One contact I have says he has to 1099 me, another says he will not. (not sure why the difference)
Question is, should I set this up in my son's name? He is 15.
We will be bringing in about 15K a year and I want to use the money to fund his college and pay for some hunting and fishing.
What are my down sides? He has to be in a lower tax bracket than me for sure.
Any advice or input would be helpful
Oh, can he be a priciple in a LLC?
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PM Casey, I'm sure he can steer you in the right direction...... Sorry Boss!
