Forbes contributor Kelly Phillips Erb always does a great job of taking a complex but important subject and breaking it down into easy-to-digest components. Today she’s back with an article on What Kids And Their Parents Should Know About Summer Jobs And Taxes.

Her basic points:

1. You may not owe taxes, but you may still need to fill out tax forms.
2. You may need to file and pay taxes even if you’re paid under the table.
3. Don’t forget about state and local taxes.
4. You may be able to claim job-related expenses.
5. Consider using a tax professional.
6. Save for a rainy day.

I see a lot of folks forgetting #1 and #4 (sometimes because they’re ignoring #2). Please take a moment to read the article and perhaps consult with a tax professional — if you meet with them in the off-season, they’ll probably be open to a short consultation/ training session, so that you’re armed to file these forms yourself come tax-time. A little investment now will get you a lot of savings (and compliance with tax agencies) in the future.