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Kid Tax

Definition: A tax applied to any income a child under the age of 14 receives in excess of $1200.  The income earned over this level is taxed at the parent's rate.

TeenAnalyst Advice: If a child under the age of 14 earns over $1200/year in income, they are obligated to pay taxes on it.  However, since kids can't work at this age, most of the time this income comes from dividends, bond interest, or a hobby business they might own.

Thank the government for this tax.

 

Discuss It!
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A tax imposed on kids is not good as it can be a burden on them. They should be given tax exemption so that they can enjoy their life. Their wages are on the minimal side and a heavy tax like this can make problems for them.

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Don't believe I've heard of child tax until now. Well that's an interesting revelation.

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I really appreciate this teen analyst advice. But i feel sorry about the kids for their tax being generated. Even i feel the same with them, if it is exempted. As i was looking to pay someone to write my essay, fortunately got here. Good share pal.

here said:

Yes it is an interesting topic. Here before I never heard about child tax so interesting thanks for sharing this information with us. A child tax is a tax credit available in some countries, which depends on the number of dependent children in their family. Credit depends on income level. It differs for every country. Tax payers total tax credit is refundable to the extent of the greater of 15% of they earned.

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I think all children have to know it, in order to regulate their incomes and expensses.

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