I am a student and a part-time nanny who isn't earning minimum wage. :)
2007-09-10 18:51:04 · 5 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
If you are considered self-employed, the limit to have to file is $400. If you are an employee, then if you're a dependent the limit is $5350, if you aren't a dependent it's $8750.
If you are a nanny at the people's home, then it's likely that legally you would be considered an employee, so they'd not only have to pay at least minimum wage, they'd also have to pay employer's taxes. If no social security and medicare is being withheld from your pay, then they are treating you as self-emploiyed which is probably illegal.
2007-09-11 01:25:32 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
You will be treated as self-employed. If your income from self-employment is $400 or more, you must file income tax return.
Your income is subject to 15.3% social security and medicare taxes. You need to file Form 1040 and Schedule SE (Form 1040) Self Employment tax.
If you are single dependent, then you won't have to pay any federal tax if your income is up to $5,350. If no one claims you as a dependent, then you won't have to pay federal tax if your income is up to $8,750.
2007-09-10 19:41:57 · answer #2 · answered by MukatA 6 · 2⤊ 0⤋
depends where you live and if you don't make the minimum, you will be alright I think. I think it's 5200 I don't know for sure. Call the I R S don't say your name them people are bad bad bad people.......HA.
2007-09-10 22:59:39 · answer #3 · answered by Anonymous · 0⤊ 1⤋
I believe the minimum income before you're required to file is $4850 from work and/or $300 from non-work sources (investments, dividends, interest, etc)
2007-09-10 18:59:54 · answer #4 · answered by dumboe8899 3 · 0⤊ 4⤋
Go on the IRS website and get your questions answered. http://Irs.gov
2007-09-10 19:00:30 · answer #5 · answered by tacos53 2 · 1⤊ 2⤋