Congratulations if your child is a student with a summer job! There are tax implications for the income your child will earn.  This article highlights seven points that you will want to be aware of and discuss with your child as they plan how they want to spend that extra money. It will be a valuable teaching moment! 

https://www.sharrardmcgee.com/newsletter.php#6

Your tax advisor at Sharrard, McGee & Co., PA is always available to discuss the ramifications of any financial changes on your individual or business tax planning. Call us at (336) 884-0410 in High Point or (336) 272-9777 in Greensboro.