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How to file my small business name?

I have to 2 cars financed in my name for my dad's business but I don't file any taxes?

  • I work (part time whenever I have free time from college) for my dad in his business and I don't file any taxes, I have 2 cars financed in my name but the payment comes from the ...show more

  • Answer:

    Dennis, your post is horrifying. 1. You NEVER allow a relative to put an asset in your name, let alone use your "good credit" to finance it. If he screws up the payments, your credit history is toast. If you want to borrow money for a car of your own, you won't be able to because the system will show that you already owe on these. 2. As for filing, ask your dad when you will get the W-2, how much the total for wages is and how much was withheld for income tax. If you made more than $6100, you must file.

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assuming when you do work it is cash without taxes withheld? this is self employment income but since you are probably under 21 and this work is for your parent you are not subject to FICA withholding the cars have nothing to do with your income taxes

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You should file, but only because you work, not because of the cars.

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