Quote:
Originally Posted by ichisato
Well, I'm only 16, I don't pay taxes :|
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You will get a 1099 (or W2, or something like that) from Google. It would be a mistake to think you didn't need to at least file that form. Plus you would pay taxes if you gross over a certain amount in income, regardless of age. The IRS doesn't want parents laundering money through their children, thus even children have to pay taxes [after a certain amount].
Possibly a more relevant point though: I wonder if it's even legal for a sub-18 year old to officially post an app for purchase and receive money for it since you're technically not legally liable for any contract until you're 18. If it's your parents' cell phone plan, and the app is posted under that, then your parents may be liable for the taxes instead of you. I'm sure Google has something about that in their Terms of Service, so I'd read up on that if I were you.
I'm not knocking your app, entrepreneurial spirit, or business plan; rather I'm simply pointing out things you need to make sure are covered.