Do I Pay Taxes on My Children’s Income?

If you started a savings account for your child, you might be wondering if you need to pay tax on the interest he earns. If interest and dividends were all he earned, you won't need to pay taxes, unless he earned more than $900 in 2008.

However, if he held a part time job, the rules are different. For all the tax limits, see Do I Pay Taxes on My Children’s Income?