My wife is interested in Stock Photography and I am already on Shutterstock, can my wife also have an Account or do we have to just put our photos on the same account? Was not sure if Shutterstock would dock us for having two accounts from the same address etc..?

I don't know, but I would think she would be able to have and control her own account under her own social or tax ID.

My 18 year old son just created a new account last week and he still lives here at home.

I have enough competition from you gals/guys on MSG let along someone in my own house 

you can have as many as you have legal entities.