Ohai guys

[Nismo240z]

Hey, guys my name is Harris, I'm 13, and fascinated by business. I was looking at something on Google, and my eyes skimmed across the words "teen", "business", and "forum". Immediately, I went so I just had to click. I hope I get to know the community better so I can gain some experience and give back to others. (Too bad I'm still a n00b.)

I just have a couple of questions: I was reading up some info about minors having brokerage accounts and I'm not getting all the info I need. I know about UTMA and UGMA accounts. What type of account can I have that I can trade freely as a minor, and use the money to buy whatever I want. I know with UGMA and UTMA accounts are custodian accounts, but I've read a little about guardian accounts. I am also being taught into a more depth view of the market from my friend's dad (in stock trading business for 30 years) about trends, which stock to pick, etc. This gives me an advantage so I know how to play with my money.
1. What exactly is a guardian account?
2. I've heard tax liabilities are on my parents from my income. Is it true?
3. How much would my income be affected from my parent's tax rates?
4.Can I use my income for anything? (If my dad withdraws the money for me to use.)

Thanks, Harris

P.S. I hope to use this site to aid me so I can get my MBA at Harvard.

[cecBUSINESS]

Hey Harris, wow ok, that's a lot of information there. First of all, you're already planning on going to Harvard, sweet. I'd love to go to Stanford (come on, it's in startup central) so we'll see if anything happens. Ok, I'm not 100% sure in regards to guardian accounts, but I'll answer the best way I can.

I have to accounts, one my parents set up, and a "current account" with a debit card in my name. If you're 13 then I believe you should be able to set an account like this up easily.

As far as tax goes, I can again only answer with what I know. If you're in England then you'd have to be registered as an Ltd. company. Since you're underage your parents could register it for you as a company director, and then it could to switch to being registered in your name when you come of age. You only own tax when you achieve a certain income. Here I believe it is £12,000.

[bond]

Hey Harris,
Welcome to TBF! Good to know our SEO strategy works =). Message @JWInvestments, @ryanhami, @sutler, and @lukas. They are stock traders and will certainly be able to help you or at least direct you to someone who can.