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Marilyn A. Banyai, CPA
Certified Financial Planner
975 School Street, Collegeville, PA 19426
Phone: 610-489-6644
Fax 610-489-9488
Email: mab@marilynbanyai.com
Website: www.MarilynBanyai.com
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September/October 2025
Summer Jobs for Kids
Taking a summer job is a rite of passage for kids and an excellent way for them to learn financial responsibility while earning and spending their own money.
Tax Withholding
Generally, a child working a W-2 job, earning less than the 2025 standard deduction is considered to be a dependent and won't need to file a tax return. However, it may be a good idea to file if federal income tax was withheld, because the child may be entitled to a refund.Branching Out
When minors start doing things like babysitting or lawn care, they are technically self-employed. In this case, generally, dependent children who have earned income of more than $15,000 (in 2025) typically need to file a personal income tax return and might owe tax. Be sure your child keeps track of their expenses for things like mileage and equipment purchases.When your children start earning their own money, help them learn about budgeting and saving. Distinguishing between wants and needs will help them create a realistic budget while saving money.
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Marilyn A. Banyai, CFP, CPA and LTM Marketing Solutions, LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Marketing Solutions, LLC, an unrelated third party. Articles are not written or produced by the named financial professional and does not necessarily represent the views and opinions of Cetera Wealth Services, LLC or its subsidiaries.
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