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those of you that babysit in your home

Posted by on Mar. 12, 2014 at 4:28 PM
  • 19 Replies
I am thinking of babysitting a child or two and have a couple people interested.
My question is how do you do your taxes? I assume you claim the income so do you just pay the chunk come tax time out of your account then or do you take a percentage out of what they pay you and put it away for tax time? If so what percent? I read somewhere its 13.3*/. (No percent sign on my phone sorry)
I will be charging 100 a week the people that are interested have a dd thats about 4mo old. I have a 2mo old and a 2yr old and my 4yr old is in preschiol 3 blocks from my home.
Thanks!
by on Mar. 12, 2014 at 4:28 PM
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Replies (1-10):
krusesbaby
by Platinum Member on Mar. 12, 2014 at 4:31 PM
Bumpy
krusesbaby
by Platinum Member on Mar. 12, 2014 at 4:31 PM
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krusesbaby
by Platinum Member on Mar. 12, 2014 at 4:31 PM
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krusesbaby
by Platinum Member on Mar. 12, 2014 at 4:35 PM
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Anonymous
by Anonymous 1 on Mar. 12, 2014 at 4:36 PM

 no idea, sorry. maybe call a tax company and ask?

krusesbaby
by Platinum Member on Mar. 12, 2014 at 4:40 PM
I think you can do it whatever way as long as you can pay it when it comes time i just wasnt sure if its better to take it out as i go like if it was in a pay check and save it. Or if people just use all of the money when they get it ans at tax time just pay it from whatever $ they have at the time

Quoting Anonymous:

 no idea, sorry. maybe call a tax company and ask?

Anonymous
by Anonymous 1 on Mar. 12, 2014 at 4:46 PM
1 mom liked this

 I would save the money from each check. That way you have it available when the time comes to pay the taxes.

Anonymous
by Anonymous 2 on Mar. 12, 2014 at 4:47 PM
I don't claim it.
krusesbaby
by Platinum Member on Mar. 12, 2014 at 4:48 PM
Do the people you sit for claim it for the childcare credit? I wouldnt claim it but im pretty sure they will want my info to get the childcare credit and then i will have to claim it anyway.

Quoting Anonymous: I don't claim it.
Anonymous
by Anonymous 2 on Mar. 12, 2014 at 4:53 PM
Not that I know of. They've called and asked my name for it a few different times but they don't have my social so it can't be linked to me directly.

Quoting krusesbaby: Do the people you sit for claim it for the childcare credit? I wouldnt claim it but im pretty sure they will want my info to get the childcare credit and then i will have to claim it anyway.

Quoting Anonymous: I don't claim it.
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