Q: Is it safe to give Stripe your Social security Number? Do I have to Pay taxes if I make no revenue?
Is it safe to give Stripe your Social security Number? In order for me to create an account with Stripe, I need to give it the last four digits of my ssn.
Back story I'm a minor wanting to start a business in Florida where you pick up dog poop from peoples' yards. I created a website in wordpress and now the last step is to add a payment gateway which is going to be stripe.
I'm also not going to register my business until I start making some money.
Quick question if my business make no revenue do I have to pay taxes? What's the minimum amount I have to pay taxes on.
If I end up having to pay taxes would I be able to transfer stripe ownership over to my parents so they are the ones that have to pay the taxes. I very much appreciate if someone could answer these questions!
Thanks,
A:
Florida doesn't have income taxes. The U.S. government does. I suggest you go to irs.gov, download a form 1040, and the instructions for that form. After reviewing those documents, you should have a better idea of how income tax works.
And no, if you make no money at all, you don't pay income tax.
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