How old do I have to be to start a business? -

Me and my friends made a web site, and we want to use Google AdSense, but you have to be 18 to receive the money. My parents agreed to take the money for us, but then we realized we would have to pay taxes on my friends money to.So does any one know a legal way? How old do me and my friends have to be to receive the money and pay grouped taxes?

Ok.. supposedly you have to be 18 years old .. Yet good solution for you and your friends.. is to deduct the tax money from the entire receivable money .. then divide it after ...... set together and see if you can do that ..good luck and have a great day ..

If one of your parents or adult is not earning and paying tax it is likely that they could receive the Adsense payment and not be liable for tax as they would get a tax allowance anyway.Something like ��6000 p.a allowed earning not taxed

How to lay out a business ledger? -

I ve recently set up a part time, business. I sell items on ebay do carpentry joinery on weekends etc. I ve recently purchased a ledger. It has all lined sections etc but no literature like cash , expenses etc at the top. What is the best way to lay it out. Also what paperwork do i need to keep with the selling on ebay. thanks.

You need to keep a ledger (or cash book as they are more often called) for both businesses - you cannot get the two mixed up as they are different.You could head the sections on the income side: date, name of client/customer or item sold, whether cash or cheque, then total.On the expenditure side you need to make your headings: date, description, cheque no, total and then analyse across with headings such as purchases, materials, travel, packaging, - whatever works for the businesses. Total each collumn at the end of every month and reconcile to the bank accounts. Thsi will make it easier for your accountant at the end of the year.You need to keep all paperwork for all income and expenditure - invoices and recipts, paypal statements and bank statements.