Does drop shipping affect parent's taxes and bank account?

Jairoa21
Visitor
2 0 0

Hello i am 15 years old and want to start drop shipping. If i use my parents ssn and bank account for payout setting will that affect her taxes and would it affect anything else for her? Thanks.

Replies 4 (4)

Paul2009
Shopify Partner
1 0 0

@Jairoa21 wrote:

Hello i am 15 years old and want to start drop shipping. If i use my parents ssn and bank account for payout setting will that affect her taxes and would it affect anything else for her? Thanks.


The Shopify terms of service require you to be at least 18 years old to open a Shopify account.

Jairoa21
Visitor
2 0 0

Yea but what if my parents manage the account?

Nick
Shopify Staff (Retired)
4531 434 1025

Hi @Jairoa21,

 

Great question. As mentioned you will need to use an account through your parents or gauradian until you're 18 years old per the Shopify Terms of service states.

 

19-38-14117-88668

Because of the store being in your parent or gauradians name, it will affect their taxes. I recommend you let your parents or guardian know this and advise them to speak to a local tax authority/ official about any other aspects on that side. I would also recommend to speak to a lawyer for any legalities which might be included in starting a small business. 

 

I hope that answers your question and let me know if you have any others! 

To learn more visit the Shopify Help Center or the Community Blog.

Edgar_
Visitor
1 0 0

Am I able to use my bank account information but they own the business? Such as them managing the account