Broker Check
Jose M Borro II
Jose M Borro II
AirMar Wealth Management Financial Planner
https://www.prudential.com/advisor/jose-borro (561) 206-5366

Jose M. Borro II, CPFA®
Founder, AirMar Wealth Management

Born and raised in Naples, Florida, Jose is the son of Cuban immigrants whose sacrifices shaped his values: freedom, family, and opportunity. That legacy is the heart of everything we do at AirMar.

After more than a decade in the financial industry, Jose founded AirMar Wealth Management to offer something often missing in finance—human advice, grounded in trust, values, and lived experience. Every strategy we create is designed around one central truth: your life comes first.

When he’s not helping clients shape their futures, Jose is enjoying his own—boating along the Atlantic with his wife Lauren, adventuring with their son Judah, and soaking in the Florida lifestyle that inspires the AirMar name.

Licenses & Credentials:

  • FINRA Series 7 & 66 held with LPL Enterprise
  • Florida 2-15 Life, Health & Variable Annuity License
  • Certified Plan Fiduciary Advisor (CPFA®)
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Does Your Child Need to File an Income Tax Return?

Tax Read Time: 3 min

As parents, we encourage our children to work, so they can learn important values about work and independence. At what point, if at all, do children need to file an income tax return for the money they earn?

The IRS does not exempt anyone from the requirement to file a tax return based on age, even if your child is declared as a dependent on your tax return.1

Your dependent children must file a tax return when they earn above a certain amount of income.

Dependent children with earned income in excess of $14,600 must file an income tax return (for the 2024 tax year). Dependent children with unearned income of more than $1,300 must also file a return. And if the dependent child's earned and unearned income together total more than the larger of $1,300, or a total earned income up to $14,150 plus $450.2

These thresholds are subject to change, so please consult a professional with tax expertise regarding your individual situation.

Here's an example. Kyle is a 20-year-old college student who's claimed as a dependent by his parents. He received $400 in unearned income and $5,500 for a part-time job on campus. He does not have to file a tax return because both his unearned and earned income fall below the thresholds. Kyle's total income of $5,900 is less than his total earned income plus $450.

Even if your child earns less than the threshold amount, filing a tax return may be worthwhile if your child is eligible for a tax refund.

If you decide to prepare a separate return for your child, the same reduced standard deduction rules detailed above will apply.

1. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties.
2. Investopedia.com, April 15, 2024

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG, LLC, is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

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