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Reply to "Please help me with Self Employment Babysitter Tax question "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Nannie’s need to be paid on the books. You’re a household employer [/quote] This is OP - apologies if this is a dumb question but aren’t I remedying the issue of employer’s payment off the books by presenting it as my earned income and then paying the required taxes? Does my filing of the wages and tax payment’s not remedy the original payment off the books on his (my boss’) part? [/quote] If you file and pay, then it is on the books. You need to look up “estimated tax withholding payments” and submit quarterly estimates. If your other employers withhold, then you are ok. You’ll just want to pay estimated taxes on the 2 day/week income. The math can be tricky, but expect to pay anywhere from 20-40% of your income to taxes. If you underpay the fines are higher. https://www.irs.gov/businesses/small-businesses-self-employed/self-employed-individuals-tax-center[/quote]
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