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What are the legal barriers I should be aware of when trying to open a small business at 14?

I understand that because I am a minor, some things will have to go through my parent, and some things I can’t do at all. But finding information for what I can and can’t do as a minor is really difficult.

I know I can purchase supplies myself in person with cash, the e-commerce website profits will have to go through my parent, and lead to their bank account. But are there any taxes I should be aware of? Do I have to declare myself formally as a small business to anyone, or declare myself as a minor? Anything else on the legal checklist?

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Thank you comment icon I can’t answer any questions as I am a student, but I also own a business and am a minor! Good luck :) Mira
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Joanna’s Answer

You need to file an LLC or S. Corp and then you'll be doing taxes. Not sure about how it changes with being a minor with the exception of probably needing parents signature on those documents or for the documents to be in your parents' names.
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Claude’s Answer

What legal obstacles should I know about when starting a small business at 14?
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Make sure to involve a parent or guardian for support and guidance during this journey.

While I'm not an expert in legal matters, it's a good idea to get advice from both a lawyer and an accountant.

Explore the internet for helpful information.

Identify the type of business structure that suits your venture best:
- Sole proprietorship
- Partnership
- Limited liability company
- Corporation
- Cooperative
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