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Tax Insider: Working Kids Pay Taxes, Too

My 10-year-old son sets up a weekend lemonade stand at the local baseball field, where there are little league and adult softball games all day long. To my surprise, he makes as much as $100 per week selling refreshments. He asked me whether he has to pay taxes on this income or whether I need to pay taxes on his earnings. I didn’t know what to tell him.

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