Monday, July 4, 2011

If you are Underage, You Could Invest in Something?

There is no age minimum to invest, make money from those investments, and pay taxes on their profits.

However

There is a minimum age to open an account at a bank or brokerage. You may have to have a parent opens an account for you. But then that would be responsible for taxes. There are some cases where you can make money a year, you lose money the next, and then have a tax bill that you can not afford to pay.

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