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utgirl | Am I responsible for taxes? |
I currently work as a nanny. When I started, my boss said she was going to meet with a tax professional and take taxes out of my paycheck each week. I've been working for her for four months and she hasn't had any taxes taken out. She pays me my net pay weekly with a personal check and didn't have me fill out a w-2 when I started. Am I responsible for having taxes taken out of my checks?
Additional Details
I am not employed through a company. I found her by an add in the classifieds. She writes me a check every friday when she gets home so I am sure that NO taxes are being witheld. When I said net pay, I meant GROSS pay. |
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PepsiLime
 |
Welcome to the wonderful world of being self-employed. Better remind your boss of what she said about taking taxes out of your paycheck each week. My guess is that she might have talked to a tax professional, but changed her mind about taxes when she found out that she'd have to match the social security and medicare taxes, and also pay federal unemployment and state unemployment taxes.
You're not responsible for having taxes taken out of your checks, but are responsible for paying taxes. You'll need to pay federal withholding, which will be at whatever your tax bracket is, social security, which will be 12.4% of 92.35% of net self-employment income (basically the amount that you are receiving less any expenses you incur in being a nanny like possibly mileage expenses, which are .485 cents per mile for 2007), medicare, which will be 2.9% of 92.35% of net self-employment income, and state income taxes (if you live in a state with an income tax). You need to pay the federal taxes (withholding, social security, medicare) and state taxes quarterly, with the due dates being 4/15, 6/15, 9/15 and 1/15 of the following year.
By the way, it's not a W-2 that you fill out when you first start, that's what you get from an employee at year end to tell you how much you made, and how much in taxes were taken out. It's a W-4 that you fill out for an employer. |
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kaffegeek
|
yes, each individual is responsible for their own taxes.
that said, you employer is breaking the law.
they will get a big fine, but you will still owe. |
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ninasgramma
|
Your employer is supposed to pay her part of your SS and Medicare taxes on her personal tax return, using Schedule H. She can also pay your part of SS and Medicare, or can have that deducted from your pay. Ask her whether she is paying your part of SS and Medicare, or if that is being deducted from your pay and she sends it in for you.
She is also required to give you a W-2 by January 31, 2008. If she did not give you a W-4 to complete, you can provide her with one.
Here is the W-4:
http://www.irs.gov/pub/irs-pdf/fw4.pdf
From your description, you are an employee and not an independent contractor, so make it clear you know the rules so you are not stuck with taxes you should not be paying. |
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Act D
|
yes, you are.
you may have somre recourse if she misled or lied to you about your taxes being withheld, but it does not sound like this is really the case. It is more likely that she talked to a tax attorney/professional and was told that it would be easier for her to pay you net and then it becomes your sole responsibility & not her problem if you don't claim, for you know she will report your income to the IRS in her return as an expense. |
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kinn2him
 |
you will probably have to pay your taxes as a contracted employee. check with a tax professional, though... but if it is over a certain amount annually you MUST file taxes. |
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devon
|
If you are an independent contractor, yes, otherwise, it's your employers responsibility. |
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stephenweinstein
 |
You are responsible for income taxes.
The employer is responsible for social security, medicare and FICA, including your share, if the employer illegally failed to withhold them. |
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~*WoodSmoke*~ ~Environment~ daBlogPound,Inc
|
There are different rules for domestics than out of home workers, but essentially you will be responsible for your own taxable amount.
Here is a link from the IRS that will give you clear information on what is required from each party
http://www.irs.gov/businesses/small/article/0,,id=97877,00.html |
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saberhilt
|
What do you mean by "Net pay." It could be that you are having taxes deducted.
It might also be that your boss it attempting to pay you "under the table." If so, the taxes will only come if you claim it as income.
Make sure they're not planning on hitting you with an 1099 at the end of the year.
Also, are they hiring you, or are they hiring your Nanny/Household company? Start a dba and have them pay that. then you won't have to worry so much about taxes, and even hiring you tax guy becomes a write off. |
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Jody
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Technically yet, but since she's paying you under the table, the government wouldn't know unless they audited you. I'm not going to give you any advice on this one. |
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DbagD
 |
no you are not responsible to do that. that is you employers job....but if your being paid in cash i would just get a part time job for like 4 hrs a week to show the government something at the end of the year.... |
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