I was wondering if anyone knew whether I would have to have a license to babysit at home or not? Also I was wondering if I would have to report my earnings to the IRS for taxes?
2007-03-10 09:21:07 · 6 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
You'll need to check your state laws on child care. In most states, if you are babysitting one or two kids, it doesn't require licensing. If you're opening a Day Care Center, you would need to get licensed. You'll need to check your state laws though.
Type in "day care in (state name)" in google.
Legally, you would have to report the earnings to the IRS. I'd venture to guess that most baby sitters do not though. You would also be allowed to take some deductions because you basically have a home business. But you might want to talk to an accountant or do some more research on that to figure out what deductions you could take.
2007-03-10 09:33:43 · answer #1 · answered by Faye H 6 · 0⤊ 0⤋
Yes, you do need to report your earnings to the IRS. The person you might babysit for could claim the money she pays you as a childcare deduction or credit. As for the license I highly recommend it if you will be babysitting for strangers, and if you plan on more than one child. Some areas do require one for any kind of payment.
2007-03-10 09:28:16 · answer #2 · answered by Nichoda 2 · 0⤊ 0⤋
It depends on how much you make to report to the IRS. No, you don't need a license as long as it is under 3 kids. Not that I am aware of. It might depend on state to state.
2007-03-10 09:24:55 · answer #3 · answered by chrystalbelle 2 · 0⤊ 0⤋
It depends on how many children you baby sit at once. I'm not 100% sure, but I think 4 is your cut off.
The IRS would say yes, 99% of people wouldn't though.
2007-03-10 09:29:44 · answer #4 · answered by ? 1 · 0⤊ 0⤋
I did that years ago, there was a limit of 5 , that you did not have to have liscense, it's probally changed now, you don't have to report it to the irs unless, the parents ask you for your social security # . so they can deduct childcare.
2007-03-10 09:27:10 · answer #5 · answered by All Natural Honey 6 · 0⤊ 0⤋
the license depends on ow many kids you are baby sitting, and you do have to report anything over 3000.00 dollars per year on taxes
2007-03-10 09:28:52 · answer #6 · answered by whateverbabe 6 · 0⤊ 0⤋