kids-in-biz.com

If you enjoy building things, fixing things, or working with your hands, you should consider starting a handyman service. There are so many different things you can do as a handyman to build a profitable business in your spare time.

To find your first clients, begin asking around your neighborhood and working for people you know. Once you starting showing off your skills, people will begin to see how good your work is and they’ll be willing to give you a try-and tell others about you as well.

A handyman service is great in tough economic times. People can’t afford to pay a licensed contractor for simple handy work. When you show them that you can do many of the same repairs for a lot less money, your jobs will start rolling in.

When you run a handyman service, you can offer a number of services, but you must remember there are certain things you can’t do without the proper training and a license, such as electrical work and certain types of plumbing.

But you can offer services such as the following:

* Repair or install a fence
* Paint walls
* Repair holes in walls
* Install a railing
* Hang pictures
* Put up shelves
* Install closet storage units
* Replace drawer handles
* Clean out gutters
* Install a new medicine cabinet
* Hang curtains
* Install towel racks
* Caulk windows
* Repair broken table legs

and much more!

A handyman does a little of this and a little of that; whatever needs to be done. That’s why they’re often called a “Jack of all trades.”

You will need certain tools and basic training to complete various projects. Get a small tool box and begin gather what you’ll need for your repairs. Your basic tools should include a hammer, drill, and various screwdrivers. Also include pliers, side cutters, various nails and screws, etc. Of course, once you find your ’specialty’ you’ll add the tools you’ll need for that particular task.

If you plan to do any painting, you’ll need paintbrushes in various sizes, paint rollers, and pans if your customers don’t provide them. Sometimes a customer will want their handyman to pick up the paint for the job. If that’s the case, be sure you include the paint in the cost of the project if the customer doesn’t pay in advance. Also, be sure to charge your customer for an agreed amount for your travel.

Many homeowners find themselves are in the middle of a project and find they just can’t finish the job in the time they have available to them. When this happens, homeowners will often look for someone to help them finish their project. This is a nice place to pick up handy work – offering to help someone in the middle of a repair project. Watch your own neighborhood for these opportunities. Being in the right place at the right time is always helpful.

Post professional business flyers around town, hand out business cards, and even mail postcards to new people in the neighborhood to get the word out about your services. Create a simple flyer that lists the projects you can do and continue to add to it each time you learn a new task. This will help people decide what jobs you can do for them. Hand several flyers and business cards out to every client you have and ask them to share them with friends they know may need your services. Be sure to remind them to keep your business card so they know how to contact you when they need help again.

Do your best work every time and your customers will refer you to others and call you back for additional tasks. Be flexible in what you can do, and in your hours, and be dependable. Show up when you say you will. And work when you’re being paid to work. Building this type of business by word of mouth is the best form of advertising you can get, and it’s the least expensive as well. Good will is your best marketing tool.

There are so many types of handyman jobs a teenager can do. If working with your hands is something you enjoy, don’t let anyone deter you from starting a handyman business because you’re not an adult yet. A handyman service business can be perfect for a teen who is ambitious and handy!

** You can afford to assist a homeowner in household projects, too. Many homeowners appreciate a helping hand from a young, motivated, and enthusiastic teen!

Have you ever helped out at home during a garage or basement cleaning day? If so, you may already be an expert at this chore.

If you need money for things your parents don’t want to purchase, or can’t afford to purchase for you, you may want to put your expertise to work for you. Consider starting your own business cleaning out garages and basements.

A garage or basement cleaning business is perfect for a teen since you don’t need a lot of experience or tools. You can make a lot of money helping other people in their quest to organize.

Few people like to clean out the garage or basement. It’s one of those things where everyone procrastinates until the place is in such bad shape, they don’t have a choice but to hire someone to do it for them. That’s where you come in.

You don’t need any kind of special equipment. Most times the client will provide you with the items you’ll need to take care of the cleaning such as plastic bags, boxes, brooms, garbage cans, and storage containers.

Besides sweeping and getting the garbage out, another thing you’ll want to do when you clean a garage or basement is to neatly arrange and organize whatever is left that your client is keeping. This can be a challenge, but it’ll be something the client will appreciate-and it can bring you extra business down the road because you “went that extra mile” and helped really get their cluttered area looking nice.

You’ll need to make sure you follow the instructions given by the client. They’ll need to tell you what they want to keep and what they want to get rid of, and of course, you’ll want to do as they ask. They may have a recycling area, so you’ll need to watch where you dispose of those particular items.

During the cleaning process, be sure you’re careful about how you handle things. The clutter may have made it difficult to reach some items and may have some things perched rather dangerously. Also, be careful about the conditions you’ll be working in, because you may find certain things that may be a health concern. There may be pesticides, paints, and other toxins. Never be afraid to tell your client if you feel uncomfortable working with certain items. Your safety is important.

Wear gloves whenever possible to protect your hands. Wear good, solid shoes as there may be nails and other sharp objects. You may also be climbing up and down a ladder so sandals are a no no. Pay attention to your surroundings so you don’t hurt yourself. If something does happen, be sure to let your client know immediately so you can have the wound cared for properly.

Cleaning garages and basements is something that teens can do well, which makes it a great business for a teenager to start. There’s almost no overhead costs involved; just the cost of advertising, a good pair of shoes, and some good gloves. Garage and basement cleaning might be the perfect business for you to start earning extra money right away!

Finding a summer job may even be harder this year. So many adults are out of work – many are filling jobs normally taken by teens. Don’t despair! No matter what the economy is like, you can find work.

Start with the obvious – babysitting. Many parents have different needs during the summer. Some working parents send their kids for camp for part of the year and look for help for part of the season. Do you have any special skills that you can promote? Are you great with babies? Love dogs? Are you a certified life guard? A great cook? Good at a certain sport? Parents appreciate having their kids actively engaged. Sell yourself!

Lawn mowing. Weed Pulling. Pool Maintenance. Like to be outdoors? Offer your help!

Music lessons. Are you good at an instrument? Summer is a great time for neighborhood kids to get some extra lessons in.

Computer services. Scan Photos. Back-up data. Run anti-virus programs. Are you a little geeky? Why not get paid for it? Set up Facebook accounts for adults that need some help.

Pet Sitting. Lots of families go away for a few days or weeks during the summer. If you’re good with animals, offer your pet sitting services. Have an adult back-up. Pets can be unpredictable and having a parent around to help is a good idea.

Many kids get part time jobs or start businesses to earn extra income, especially when they turn into teenagers and they want cars, gas for cars, clothes, etc.

The IRS has different tax rules for kids, so how do you know if your child is required to file a tax return?

In general, kids who are dependents (claimed on someone else’s tax return) must file a tax return if:

- they have earned income of $5,700 or higher (this is the standard deduction amount for 2009, the amount for 2008 was $5,450)
- they have unearned income (investment income) of $950 in 2009 ($900 in 2008)
- they have gross income (both earned and unearned) in excess of the larger of $950 or their earned income plus $300.

The most common reason kids would need to file a tax return is because they had earned income from a part time job or because they are lucky enough to have investments in their own name, as described in the above rules.  However, the following children may also be required to file a tax return:

- those who have earned income and who received advanced earned income credit payments from his or her employer,
- kids who had wages of $108.28 or more from a church, that is exempt from employer Social Security and Medicare taxes, or
- kids who had net earnings from self employment or their own business of at least $400.

Example:  Sarah is 15 and is claimed as a dependent on her parents’ tax return.  In 2008, her only income was $250 she earned from making jewelry and selling it to her family and friends.  In 2008, she is not required to file a tax return.  However, let’s assume that word about her jewelry spread and in 2009 she doubled her income.  Assuming her net earnings (after expenses) from her jewelry business was $500, she would be required to file a 2009 income tax return.

Filing your child’s tax return:

If your child is required to file only because he or she had investment income, you may be able to report the child’s income on the parent’s tax return, which would eliminate the need to file two tax returns.

If the child is required to file because she has earned income from an employer, or if she has a business of her own, then she will need to file her own tax return.  In addition, children with their own businesses will need to complete Schedule C – Profit or Loss From Business and Schedule SE – Self Employment Tax and attach these to their income tax return.

Kristine A. McKinley, CPA, and CFPÆ, offers financial and tax planning on an hourly, fee-only basis. She specializes in helping home based and online business owners understand and minimize their income taxes so they can keep more of their profits.  Link to tax blog: www.internetbiztaxtips.com

Making money?  Let’s talk about paying taxes. I know it’s not the most fun part of business, but there are things you need to know.

Most kids who start their own business do so because they want to make some extra cash to buy fun things or save for college.  Chances are, the last thing kids are thinking about when they start a business is the taxes they will owe on any profits they earn.

However, as a self-employed person, taxes could be one of your biggest expenses.  Self employed people are subject not only to federal income taxes, but to self-employment taxes as well.  As a result, this can be the biggest expense for a self-employed person, and can be quite a shock if you’re not prepared for it.

What is self-employment tax?  Basically, self-employment tax represents Social Security and Medicare taxes for people who work for themselves. This tax is used to fund benefits you receive when you retire (old age and hospital insurance). It is also used to pay benefits if you become disabled, or to your family in the event of your premature death (disability and survivor insurance).

Self-employment tax is similar to the payroll taxes withheld from the pay of most employees. The biggest difference is that as a business owner, you are required to pay both the employee and the employer’s share of the Social Security and Medicare taxes.  So while employees of a company pay 7.65%, self-employed people pay 15.3% in Social Security and Medicare taxes.

Even worse, this tax is on top of your regular income tax.  So if you are in the 10% tax bracket (we’ll assume no state income tax for this example), your taxes on your profit from your business could be over 25% (15.3% self employment tax plus 10% federal income tax).

When do you pay this tax?  The federal income tax system is a pay-as-you-go tax system. That means you pay taxes as you earn income throughout the year. If you are an employee of a company, you do this through withholding. If you are self-employed, you do this through estimated tax payments.

The general rule is that you must make estimated tax payments if you expect to owe at least $1,000 in tax for the current tax year, after subtracting your withholding and tax credits.  Estimated tax payments are due on April 15, June 15, September 15 and January 15 of each year (or the next day if the 15th falls on a weekend or holiday).  Failing to make estimated tax payments on time could result in a penalty even if you are due a refund when you file your tax return.

Even if you don’t have to make estimated tax payments, it’s a good idea to set aside 20-30% of your net profits (depending on what tax bracket you fall into) so that you will have enough to pay your taxes when it’s time to file your tax return.

Parents: want to learn how to minimize your family’s taxes?  If you have a small business, or if your child has their own business, you’ll want to learn how to hire your children (insert affiliate link) to help minimize your family’s tax burden. Click here to learn more about how hiring your children in your own business can help minimize your tax bill.

Kristine A. McKinley, CPA, and CFPÆ, offers financial and tax planning on an hourly, fee-only basis. She specializes in helping home based and online business owners understand and minimize their income taxes so they can keep more of their profits.  Link to tax blog: www.internetbiztaxtips.com

True story. A an eleven year old girls asks her grandpa to help her buy a waterslide. He asks her how much money she has saved, to which she replies, “Only $311″. Grandpa laughs and tell her to go ask her parents if she’s allowed to use some of her money to get the slide. She then told him that she didn’t have enough money.

“How much is this water slide, anyway?” he asked. Cyclone Twist Pool

“$600,” she replies.

“I didn’t even know they made Water Slides that cost that much so I said
lets go take a look at this thing”. They hopped into the truck and drove to
the store to take a look.

On the way there she started telling him more about the slide.
He asked her why she wanted such a Big Water Slide and she said, “Well, I
was thinking that I could have friends over to play in it and when we’re
not playing with it we could rent it out to other people for Birthday parties
and we could make some money!

He thought that was a darn good ideal so they bought it!

They’ve now had it since last Friday and her and a few friends played in it
over the weekend.

Soon they received a call from one of granddaughter’s friend’s parents wanting to know if they could rent it for two days while they have a family get together.

He called her and asked her if that would be OK and she said “Yes, that’s why we got it”. She also asked which days they wanted it for? I told her this Thursday and Friday.

So for $100 a day for two days! Talk about going green!

Check out WSOGold.com for some special offers.

10 Reasons Why a Teen Should Start a Business Over Taking a Job
By Stuart G Harris

Think seriously before you suggest a teenager should get a job. It could be very poor advice, particularly if you do not volunteer information regarding setting up in business as well. And while greater numbers of teenagers are setting up in business today, it is still worthwhile considering why a business is more feasible than moving into the labor force.

Here are 10 good reasons.

1. You Are in a Safer Place (especially in 2009)
What job would you be secure in today? Its the least secure career path on the planet. I recommend starting a business now. There is business opportunity galore!

2. You can act on your own ideas.
How often is the boss an idiot? Is he really there to run the business or is he filling the space? In most cases a new idea is shelved because its outside the daily routine – true! Its going to upset the system and possibly the paycheck at the end of the week.

As your own boss you can act on every idea, and chances are it will make you money! And today how critical are ideas, and the ability to change direction very quickly. Large business’s have been caught out by long time executive employees unable to make that key strategic change.

3. Avoid eternal psychological conditioning
What is a job really and what do you become in a predisposed conditioned environment? Be your own conditioner and levitate your self to a new and exciting place.

4. Get paid for what you produce
A job worker gets paid per every hour worked, and does not get paid the next hour until he/she works it. A business person builds a business that at least provides income for the standard business hours, and smart business people build passive income generating consistently around the clock. In both cases the bulk of your time can be invested in increasing your income instead of merely maintaining your income.

5. Gain experience in the experience.
What experience does a job provide doing the same thing 40-50 hours per week. Usually its repetitive process, and your exciting experience was the first 2 weeks when you learned how to do the process you will repeat everyday after then.

Business is the opportunity for new experience everyday. Even a failing business is a new experience and something a business person will experience at least once in their lifetime.

But the experience of business success is something that is difficult to obtain as an employee.

6. Ensure your tax is going somewhere worthwhile.
Employee income is the most heavily taxed there is and usually paid up front.

Business and entrepreneur tax is paid afterwards and usually with numerous expenses deducted. There is a certain degree of influence over the tax flow. How would you like it to be?

7. Create your own income.
The level of income is in your hands. Does a job offer the same control? Why is begging every 12 months considered an acceptable activity?

8. Freedom is part of the package
When does an employee obtain the freedom to have choice of other than what they can do on the weekend. When is the next holiday? What can I put on my desk? Will the boss let me go early on Friday? I can only have lunch at 1 o’clock!

If you’re the boss, what are the choices available to you? Even in the worst business you have the choice, always.

9. Choose your own social circle.
The friends you choose are the ones you keep, and they need not be in your immediate vocational sphere. In fact chances are you will create friends from a number of different circumstances, locations, environs and cultures. This is limited within the realm of employee where to a large extent your work colleagues also become your social colleagues.

10. Be responsible for your own results.
There is no one to blame but your self and there is no one to reward but yourself. No job worker enjoys this privilege and will often relent to blaming others regardless. In this regard courage, honesty, integrity, and honor are all at stake, no matter what you achieve.

At the risk of offending anyone in a job, the truth is in the 10 reasons listed above. I do not need to justify these reasons for they speak for themselves. But it would be unfortunate if these 10 reasons were not provided to every teenager what ever they choose for there life career path. A the very least they could make a choice or even do their own research to verify what has just been said.

10 very good reasons for a teenager to start a business today.

Discover the secrets to becoming a teenage millionaire. Receive your FREE ebook at http://www.successfulteenageentrepreneur.com

Stuart G Harris
http://www.stuartharrisonline.stuart-harris.net

Article Source: http://EzineArticles.com/?expert=Stuart_G_Harris
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If you’re reading this, chances are you came to this site hoping to teach your child how to earn some extra money.  Great!

More importantly, I implore you to teach your kids how to manage the money they do have!  Do you have control over your financial situation?  If you are wallowing in debt or don’t know where to begin, check out Dave Ramsey’s Total Money Makeover.  Ramsey, a debt-free evangelist, is amazingly inspirational.  I joined a few days ago and am completely hooked.

Wander over to   “Junior’s Clubhouse” and check out the Parents Room.   If you are looking for a great Christmas present for your kids, why not consider  “Financial Peace Jr For Kids” or the picture book “Careless Spending at the Carnival” which boast the message “Early Lessons that Create a Lifetime of Success!”  Click here to see the sample book.

Guest blogger 13-year old Fae has given us her opinion on Tyler and His Solve-a-matic Machine, by Jennifer Bouani. This book is part of the “Future Business Leaders’ Series.

Synopsis:  In the magical city of Nessibus, Tyler, dreams of sailing around the world. Without a father and mother, he has no idea how he will ever make this dream come true. That is until the Great Spirit of the Entrepreneurs, calls him to invent a great machine to help him do his homework and create a business to make many of these machines for his friends.

__________________________

Fae’s opinion:

I liked Tyler and His Solve-a-matic Machine, and I think it was a great way to get young kids interested in business.  I think it’s suited towards the 9-11 age group, who are old enough to understand the words, but young enough to be entertained by the wild story.  This story uses many words that very young children won’t understand, and concepts too complicated for them.  I still found the story light and fun, a bubbly sort of story that made me smile.

Tyler and His Solve-a-matic Machine has many funny and creative characters that help the main character, Tyler, on his quest to become an entrepreneur.  The characters are kept fun, but believable–if there is such a thing as unbelievable to a 9 year old!  Tyler wants to sail around the world, and invents a machine that he wants to sell to get him the money for it.  Tyler meets characters such as Soté, the one who starts him on his journey, and Giselle, a young girl like Tyler who keeps his spirits up and help him along whenever she can.  Tyler builds friendships along with his entrepreneur skills, something I found interesting.

I think that the best part of this book was that it teaches children about businesses and entrepeneurs.  The author included many clever metaphors that explained real life things that an entrepreneur would have to know about.  Copyrighting, for example, was personified by the “pirate parrots.”  There are very real lessons to be learned from this book.  I am looking forward to reading the next installment in this series!

If you love animals then it might sound really fun to start your own pet sitting business.  What could be better than getting to cuddle with animals all day long?  Pet sitting is a great way to make money, but there is a lot more to it than just playing.

In order to become a pet sitter and have people hire you they will want to make sure you know enough about animals to do a good job.  They love their pet and want their furry friend to have the best care possible.

That means you should have some experience caring for animals.  If you have your own dogs or cats that is a good head start.  If you’ve never had a pet you might want to visit a friend or family member who have one so you can see if pet care is something you are good at.  You might even volunteer to take care of your own pet without your family’s help for a couple of days, or volunteer to take care of your friend’s pet.

Taking care of a pet means:

• Feeding it on time
• Making sure it has enough water
• Taking it out to go to the bathroom
• Making sure it gets enough exercise
• Taking care of it when it gets sick
• Knowing what the pet likes and does not like
• Sticking with the pet’s routine

A friend, neighbor, family member, or client might hire you to do these things for their pet when they go away.  A lot of people would rather hire a pet sitter than send their pet off to a kennel.  You’ll usually go to their house to sit for the pet, which means the pet will get to stay in its home environment.  Sometimes the pet might stay with you in your house instead.

If you are too young to start your own business this might be something you can help another pet sitter do.  Sometimes pet sitters who have their own business like to have an assistant to help with things like going for walks or feeding.

If you are old enough to start your own business there are some things you need to do to protect yourself and get clients.

1. First, you need to learn all you can about taking care of pets.  There are several different books on the market that can help you.  “Pet Sitting for Profit” by Patti J. Moran is an excellent one to start with.

2. You or your parents need to think about protecting yourself in case something goes wrong while you are sitting.  Sometimes things do happen, and pets get sick.  A professional pet sitter with a business needs to be bonded and insured.  See this link for more details: Petsit.com.

3. You can also get accredited by joining at PSI.  This definitely encourages more people to hire you so you can grow your business.  You can find more information about becoming a professional pet sitter at this address: Petsit.com.

4. Since you want to provide the best service possible, it’s a good idea to find out what people consider to make up a good pet sitter.  This humane society article on choosing a pet sitter gives you a good idea of what people want: Choosing A Pet Sitter.

5.  National Association for Professional Pet Sitters (NAPPS) is another resource you can look at to become better in your business and get more credibility: Pet Sitters.

6. It can also help to read about how other people’s pet sitting businesses are going and how they handle the daily life of caring for pets.  A great example is: Pet Sitting Businesses.

Pet sitting can be a hobby that you do to help out friends and family members, and to make a little bit of extra money.  Or, you could make it a very profitable and long-term business by becoming accredited, getting insurance, and advertising for many customers.  It’s hard work, but it can be a lot of fun too!

Teaming up with an adult who can supervise and assist you is really important.  Animals can be unpredictable and having an adult available is essential.