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Netting a Profit: Kid businessmen make money a new way: online. By Janice Aronofsky Lots of kids cruise the Internet. Some ride the Information Superhighway all the way to the bank. Take Cub Scout
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What is net-ting a profit kid?
Net-ting a profit kid is a form of financial statement where a child reports the profits they have earned after deducting any expenses or losses.
Who is required to file net-ting a profit kid?
Children who have earned income and want to claim profits after deducting expenses are required to file net-ting a profit kid.
How to fill out net-ting a profit kid?
To fill out net-ting a profit kid, the child needs to report their earnings, expenses, losses, and calculate the net profit. This information is then entered on the form.
What is the purpose of net-ting a profit kid?
The purpose of net-ting a profit kid is for children to accurately report their earnings and claim deductions for any expenses incurred in generating the income.
What information must be reported on net-ting a profit kid?
The child must report their total earnings, itemize any expenses incurred, calculate the net profit, and provide any additional details as required by the form.
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