2006-09-19 04:28:16 · 4 answers · asked by jenny 2 in Business & Finance ➔ Taxes ➔ United States
i babysit my niece i am a stay at home mom but im pretty sure her parents will wanna claim on there taxes if anyone knows plz help
2006-09-19 04:30:49 · update #1
Varies with age and circumstance. If you are single and under 65, you don't have to file federal income tax return unless you make $8200 or more. The parents may qualify for child care credit. You would be considered self employed and subject to self-employment taxes if you make over $400. The IRS has a lot of information on their web site www.irs.gov. See link below to go directly to pub 17, which has tons of information. See also pub 334
2006-09-19 04:33:11 · answer #1 · answered by curious george 5 · 2⤊ 0⤋
In instances of contractor or self employed statuses you are required to report income greater than 600 dollars per year. While you may not be required to pay income tax if your income is below the standard deduction amount, you are still responsible for FICA and Medcaid tax amounts.
2006-09-19 11:39:17 · answer #2 · answered by Bryan 7 · 1⤊ 0⤋
In the state of Tennessee you can make up to $750 without having to report it. Anything over that, you should receive a 1099 form from the employer.
2006-09-19 12:57:26 · answer #3 · answered by GreeneyedCowgirl 5 · 0⤊ 1⤋
lol and what do you do?
2006-09-19 11:30:06 · answer #4 · answered by Chris™ 5 · 0⤊ 0⤋