Hello, I’m 16 years old looking start a drop shipping business. With that being said as per shopify terms and conditions you must be 18, I have a parent that is willing to “own” the account. I was wondering if their taxes are going to be effected, if so how much and what % they will have to pay.
@Carter_7 your parent “owns” the Shopify account, the income will be reported under their name, which could affect their taxes. The amount and percentage depend on their total income and tax bracket. It’s best to consult with a tax professional for accurate advice.