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Teens and young adults often go into business for themselves over holiday months or just after school. These jobs can be anything from au pairing, dog walking or other part-time or temporary work.

When a teen or young adult is an employee of a business, their employer will pay their PAYE. However, when they are classified as an independent contractor or are self-employed, they’re responsible for paying taxes themselves.

Here’s what young entrepreneurs should do to keep on top of their tax responsibilities:

Keep records. It’s good to make and keep financial records and receipts during the year. Recordkeeping can help track income and deductible expenses and provide the information needed for a tax return.

Pay estimated tax, if required. If a teen or young adult being claimed as a dependent expect, they should pay enough tax on time to avoid a penalty.

File a tax return. When tax season rolls around, young taxpayers can review the information and forms, gather their records, and e-file their tax returns. When preparing to file a tax return, they should review all their records, including any estimated tax they’ve already paid.