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can anyone answer this tax question?

Posted by on Jan. 25, 2010 at 7:01 PM
  • 8 Replies

i watch three boys a couple times a week.....and their mom just called and asked if i would be filing that income on our taxes....i told her i wasn't planning on it. she said it would beneift her if her and her husband claim that money on their taxes. if she filed that on her taxes would i have to file it on ours so it would match?

and if i did would i be taxed on it? or only if a made over a certain amount?

by on Jan. 25, 2010 at 7:01 PM
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Replies (1-8):
LuvmySFSGT
by on Jan. 25, 2010 at 7:04 PM

Yes..it will actually help her a great deal.

How much did you make during the year babysitting?

And whats your husbands income on his W2? 

I can figure out how much of a difference it will make if you want to PM me.

LOVESTONED
by on Jan. 25, 2010 at 7:04 PM

They want to claim that they paid you for daycare because they would get more money in return.  So then you would have to claim it as income under your taxes. But I know if its under a certain amount you dont. I just dont know what that amount is.  When I was paying a friend for child care I claimed that. I needed her ssn and all that. They didn't have to claim it though. So im not sure really...

adrianasmommy07
by on Jan. 25, 2010 at 7:05 PM

 This was something you should have worked out in the begining really because of stuff like this. Do you give her reciepts? If not, she cant claim it as she has not documentation of how much and could just make something up. As for if you should claim it, it really depends on how much you make from watching the kids. If its less than $500 for the year I dont believe you have to claim it. If its more, legally you have to show it.



"Don't be afraid that your life will end, be afraid that it will never begin."


rylansmommy4108
by on Jan. 25, 2010 at 7:06 PM

I'm going to say file it on your papers better safe than sorry...but I am pretty sure they won't tax you unless you made of 15,000 dollars on it...I am pretty sure thats the law cause my hubby worked a garage this year but didnt make 15,000 and got no taxes taken from him

imdana1122
by on Jan. 25, 2010 at 7:08 PM

Not sure so here's a bump for ya!  Good luck mamma.

BraxtonsMom07
by on Jan. 25, 2010 at 7:09 PM

hmmm....okay thanks for the replies. i usually make it clear that i do not want them to claim me on their taxes....but i think since it'll help them out she wanted to see if i would be willing.....i guess i'll call my accountant tomorrow......

Linsala
by on Jan. 25, 2010 at 7:11 PM

If she claims it you need to also. Anything over $400 of self employment income has to be reported. She can use cancelled checks as receipts, but she does need your social in order to claim it.

 


Lilypie

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friendlymom5
by Lisa on Jan. 25, 2010 at 7:11 PM

irs.gov has all the CORRECT answers including amounts.

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