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Reply to "how do you handle babysitters wages?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I think it's determined annually not quarterly and I believe the cap is something like $1700 per year.[/quote] The cap is quarterly. [/quote] I know it is for nannies, but is that true for babysitters as well? Everything I have seen for occasional babysitters says it's an annual cap.[/quote] I don't believe the IRS makes the distinction between babysitter and nanny. However I was mistaken. The cap for 2013 is $1800 and is an annual cap. http://www.irs.gov/publications/p926/ar02.html#en_US_2013_publink100086752 That being said, I have always been paid cash by the families I sit for on an occasional basis. If a family that I sit for occasionally wanted to pay taxes on the wages they paid me, I'd expect a higher hourly rate to compensate for the money I'd lose to taxes. [/quote]
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