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Anyone have a kiddo who started a business?


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Hi all,

My 14-year old DD is in the process of launching her own small business - selling fused glass jewelry. Her goal is to be a vendor at a craft show or two this holiday season. Because holiday mania isn't manic enough. 🙂 

Anyway...have any of you had a kiddo who launched a small business? What do I need to know so I don't run afoul of the law? (We are in Virginia, by the way.) If you applied for something like a Square reader, did you apply under your own name or under your child's? They ask for last 4 digits of the SSN to confirm identity, which gave me pause. Funny, I don't mind throwing mine out there but I think really hard before I share my kiddo's!

And...how would you count this on a high school transcript? Independent study? Business/entrepreneurship studies? Extracurricular?

Thank you for any advice you can give me!

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Mine is an author & artist, so a bit different. I'm still not sure I get everything. But she has an EIN from the Federal government & a sales tax license (certificate?) from our state. When she sells online, the vendor takes care of the sales tax. When she sells the books/prints/paintings/etc locally, she needs to manage the sales tax thing. 

She hasn't made enough yet to mess with income taxes. We'll figure that out when we get there. Good luck to her!

ETA: Forgot the transcript question. I guess it'll go as an extra curricular. It might make one of the essays but her non-profit is more likely to make it into an essay than her art/books.

Edited by RootAnn
Forgot a question
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Wow, congrats to DD on her artistry and on her desire to share her jewelry through selling!

Can't answer your questions, but just wanted to suggest a possible resource -- Rena Klingenberg's Jewelry Making Journal. She has several e-books of tips and strategies on selling the jewelry you make in different venues, including shows, and arts & crafts fairs. I know Rena very well and can vouch for both her character, as well as the quality of her tutorials and books. 😉 

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8 minutes ago, Lori D. said:

Wow, congrats to DD on her artistry and on her desire to share her jewelry through selling!

Can't answer your questions, but just wanted to suggest a possible resource -- Rena Klingenberg's Jewelry Making Journal. She has several e-books of tips and strategies on selling the jewelry you make in different venues, including shows, and arts & crafts fairs. I know Rena very well and can vouch for both her character, as well as the quality of her tutorials and books. 😉 

Thank you, Lori! I'm sending this link to my kiddo right now!

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Hi Rosie,

I hope this works - I've never uploaded a picture here on the boards. This is a sample of pendants she made for a Kids' Craft Show that our city hosted at the beginning of the summer. 

Her glass arts teacher has worked with her a lot on how to price her pieces based on the amount of materials & time it took to craft them.

X3UzsZEqQLmB0Oqo1b7iVQ_thumb_20b6.thumb.jpg.a721fc818d21038299458d8f92e2d74e.jpg

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My 14yo has two businesses -- a web design business and then another selling chemically treated Rubik's Cubes.  The web design - which is far more lucrative -- basically pays for the the cube stuff.   Although possibly he's starting to break even on that?  Not sure.

Anyway, as a PP said, the online vendor takes care of sales taxes and so far he hasn't made enough money overall to need to file a tax return.   I haven't really thought about the transcript part, but I guess it would be an extracurricular.  It has definitely been a great learning experience!

 

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14 minutes ago, JennyD said:

My 14yo has two businesses -- a web design business and then another selling chemically treated Rubik's Cubes.  The web design - which is far more lucrative -- basically pays for the the cube stuff.   Although possibly he's starting to break even on that?  Not sure.

Anyway, as a PP said, the online vendor takes care of sales taxes and so far he hasn't made enough money overall to need to file a tax return.   I haven't really thought about the transcript part, but I guess it would be an extracurricular.  It has definitely been a great learning experience!

 

What are chemically treated Rubik's Cubes? 

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