 She want to teach your kid about money and responsibility with a summer job? Well, then you also need to teach them about finding their own taxes, especially if she gets a W-2 with taxes already taken out. Because you can't just throw that income on your personal tax return. Only her interest and dividends can go there. She makes sure she's listed as a dependent. That means she lives with you for more than half the year and you provide more than half of her support. And she's under 19 or 24 if she's a full-time student. Now she earns less than the standard deduction. That's $6,350. She might actually get some cash back. Income requirements are different for earned income. That's the money she makes when she works. And unearned income, stuff like interest, dividends, unemployment. Also, if you have a budding entrepreneur or say she sells those homemade bracelets on Etsy, beware of self-employment tax. And if you have a business you want to put your kid to work, go for it. You can deduct her wages, but you have to file a W-2. If your business is incorporated, though, the regular employment tax rules apply. I know, bummer. Hey, I only got 60 seconds, so read the column for more stuff.