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If you babysit do you have to file taxes?

I might start babysitting and if i do do i have to file taxes?? Or how do I ask the people if they are going to claim it on thier taxes?

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Anonymous

Asked by Anonymous at 10:40 PM on Aug. 1, 2010 in General Parenting

Answers (10)
  • it depends on how much you make from it. you will have to check with your state laws.
    jennifer588

    Answer by jennifer588 at 10:41 PM on Aug. 1, 2010

  • I believe you can make up to $600 per year without claiming it, but you will need to double check that figure. You are supposed to claim everything though, even gifts... It also depends on your annual income.
    sherribeare

    Answer by sherribeare at 10:43 PM on Aug. 1, 2010

  • I remember when I had my sister-in-law watching my daughter when she was little, and I was all set to claim it on my income taxes, until she informed me that SHE wasn't claiming it on hers, so I couldn't do it on mine (it's either you both do, or you both DON'T).............I don't know why I listened, probably because I was trying to respect my hubby, and didn't do it.......Boy, did I take a BIG loss.....Now that i think about it, she probably DID claim it on hers, and got DOUBLY paid.....Don't get me started thinking about all this again, lol......

    Just be CAREFUL how you handle this with the person you babysit for!
    cfh72

    Answer by cfh72 at 10:44 PM on Aug. 1, 2010

  • Legally yes and if you start your own business than you'll definitely have to but if you're just doing it on the side you can get away with it.
    jessicarae787

    Answer by jessicarae787 at 10:44 PM on Aug. 1, 2010

  • anything over 600 you have to report
    MKSers

    Answer by MKSers at 11:12 PM on Aug. 1, 2010

  • i never hve
    regian19832002

    Answer by regian19832002 at 11:26 PM on Aug. 1, 2010

  • It depends on how much you make.......
    SAHMinIL2

    Answer by SAHMinIL2 at 11:51 PM on Aug. 1, 2010

  • Legally yes...you need to ask, because if they claim child care they will name you and have to give you a 1099 form so you can claim what you earned. If they pay you under the table then....that is against the law...but I won't tell lol.
    salexander

    Answer by salexander at 11:20 AM on Aug. 2, 2010

  • Yep! I do. I was considered an independent contractor for the 1st family I cared for, but now I get a W-2 with the current family. I really don't think it would be worth getting caught and having to pay all the back taxes and penalties. Besides, its our duty to pay our taxes. As much as it kills me to see tax dollars wasted on a bunch of rediculous spending, I know that our police, firefighters, and armed service folks need to be paid.
    kenzie07

    Answer by kenzie07 at 4:19 PM on Aug. 2, 2010

  • If any single person pays you more than $600 in a calendar year, then you do have to declare this as income. I strongly recommend filing quarterly tax estimates to avoid a big tax bill with penalties and interest.
    rkoloms

    Answer by rkoloms at 8:08 PM on Aug. 2, 2010

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