Giving tennis lessons on the side...Should I pay taxes on it? How do I do that?

Question

I am an international student at a university (F-1 visa) and I give tennis lesson on the side. That means I'm getting paid under the table? I make about 1000$ per month. How do I report and pay taxes on that? Should I?

Answer 1

If you had just given a couple lessons and the student had bought you lunch, then it wouldn't be something to worry about, but it's obviously a lot more than that, so yes, you are required to pay taxes on it. It would be considered a business.

You need to keep very accurate records of what you get paid - and also of what expenses you have to make that money - court fees, balls, any other equipment, whatever else you need to buy to give the lessons. You report your income, and also your associated expenses, on a schedule C. The net income then transfers to your 1040-NR.

Answer 2

Yes, you need to pay taxes on it. File a Form 1040NR return. File Schedule C to account for the income and business expenses. File Schedule SE to calculate the Self-Employment taxes. (Schedule SE may not be necessary since you are classified as a non-resident alien. See IRS Pub 519 for more information on that.)

What you are doing isn't called being paid "under the table." That refers to working at a regular business and being paid from cash taken in that was not accounted for by the business.

Answer 3

You should report it as miscellaneous income on your tax return. By not paying taxes, you are risking a felony and potential stretch in the penitentiary.

Answer 4

you go the nearwst IRS payment center and pay quarterly.