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If You Have a Simple Tax Return and Need a Little  Form

If You Have a Simple Tax Return and Need a Little Form

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[Music] hi everyone i'm michael ruger i'm the managing partner at green bush financial group and with me this morning is my partner in the firm dave wajesky dave is also the managing partner of the wajeski and company accounting firm and the topic we're going to talk about today is when does your child have to file a tax return or when is it optional for them to do so when the advantages and disadvantages around that so let's just start off with the easy example that you know my daughter starts working she's 16 she made five thousand dollars for the year does she have to file a return should she file a return like how does that work well no the irs has let anybody escape tax so uh from a child's standpoint there's you have to know the difference between earned income and unearned income so earned income is anything to earn from work or that's not passive like interest dividends and capital gains because the irs has differe

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