I clean houses a few times a week and this is my only source of income. I live with my boyfriend and he pays for most everything, so I decided to clean houses for just some extra spending money so I didn't have to ask him for it. I make no more than $400 a month, so my question is, do I still need to file taxes?
2007-08-13 05:12:17 · 9 answers · asked by Tamara C 1 in Business & Finance ➔ Taxes ➔ United States
I hate to say it, but yes, you do need to file taxes. You are self-employed, and will possibly get 1 or more 1099's at year end from the people that you clean for. If you do get a 1099 from any/some/all of them, you will need to file your 1040 return, and report your cleaning income on a schedule C. You will also though be able to report all the expenses you incurred in your house cleaning business (mileage, supplies, equipment, etc). If your net Schedule C income is more than $400 you will have to pay self-employment (SE) tax, which is 15.3% of 92.35% of the net Schedule C profit. I have included a list of deductible expenses for self-employed persons to give you a guide.
2007-08-13 05:20:07 · answer #1 · answered by Anonymous · 1⤊ 1⤋
pay taxes clean houses maximum 400 month
2016-02-02 10:15:17 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes, if you make over $400 a YEAR you are required to file and to pay taxes. You probably won't owe any federal income tax, but will owe self-employment tax (for social security and medicare).
2007-08-13 06:05:40 · answer #3 · answered by Judy 7 · 1⤊ 0⤋
Not sure where you live, but if you are working in the USA and are making any income over $600 annually, you have to file a tax return, and may be required to pay taxes depending on how much you make during the year.
If you are a US citizen, you have to file a return.
2007-08-13 05:19:09 · answer #4 · answered by Stupid Flanders 7 · 0⤊ 1⤋
I Clean Houses
2016-11-05 01:19:10 · answer #5 · answered by ? 4 · 0⤊ 0⤋
Assuming that you are self-employment, the minimum filing requirement is $400 per year. You would be above that.
You may not owe any income taxes at that level but you would owe self-employment tax which is your social security and medicare.
2007-08-13 05:19:08 · answer #6 · answered by Wayne Z 7 · 0⤊ 1⤋
You do not have to... but you should. Plenty of people do not pay taxes on income like this, but legal you are supposed to.
Anything over $650 per year is taxable.
When you start making money try to find ways to deduct as much as possible so you do not have to pay taxes. EVERYTHING you spend is a deduction. So track it and take it. For me, I run a small business from home and get about $15K a year in deductions. So if I only make $15K a year I would never have any taxes to pay. So your key is to learn how to pay less taxes, but pay them. No point in going to jail.
2007-08-13 05:17:59 · answer #7 · answered by Anonymous · 1⤊ 3⤋
Yes, you do need to pay taxes. The amount is based on an annual amount not a monthly amount.
2007-08-13 05:16:24 · answer #8 · answered by Dawn C 3 · 0⤊ 2⤋
if you get paid under the table then no you dont have to pay taxes..because really you dont have any income, but if you get a pyacheck...then yes you need to pay taxes.
2007-08-13 05:20:29 · answer #9 · answered by Anonymous · 0⤊ 5⤋