 Can you get your paycheck reprinted if lost? |
| i cant believe it but we lost my husbands paycheck will his employer offer to reprint a new ... |
|
 Better of on benefits,? |
I was thinking about getting my first ever job but after calculating the the cost involved I might as well clame benefits.
If I was working I'll be making minimum wage £185 for a 37 hour ... |
|
 How do you add sales tax? |
ok i live in kentucky and sales tax is 6% and the item is
149.70 help ... |
|
 Is it possible to survive in U.S. with $65.000 salary ? |
| As I`ve noticed from yearly statistics, the average salary in my profession seems to be $65k per year in U.S. (I`m currently in Europe and have a B1-Visa, though my wife and kids don`t have VISA). <... |
|
 How much does a uk paper round pay? |
| in in the uk so only tell me in pounds plz, just woundring how much does it pay?... |
|
 Does anyone know if the government stimulus paper checks have gone out as yet? |
| has anyone received a paper check or a letter stating the check is on the way and the amount they will be recieving? thanks for your answers.... |
|
 I know someone that lied on their taxes... What are the consequences?? |
| My friend found some guy to make her a fake W-2 form that lists her income as about $20,000 more than it really was for 2006. She got about $4,000 back and the guy took half for his services. What ... |
|
 If You Were President: TAXES.? |
| What is the republican stance on taxes vs. the democratic one. What do you think the taxes should be like?... |
|
 Second Job, would my First Job employer find out? |
| I am earing 25K in my Mon - Fri Daytime job. I have been offered a second job for about 5K annually. I want to pay tax on the second income, but would my day time employer find out that I have a ... |
|
 If you don't show up for work is that considered quitting or do you get fired? |
| boyfriend has a nightmare boss of 7 years, and wants out....any way he could qualify for unemployment benefits if he were to quit-- or just not show up again?... |
|
 Are we getting a bit fed up with tax upon tax ? |
Hi,
For example, I pay Income tax on earnings, NI contributions (another tax), then use the money to pay VAT, import tax on a car, then taxed for using it on the road, in a sticker on the ... |
|
 Do I have to report my interest revenue to IRS? |
| I don't have any other income besides my interest revenue, and the amount is not that much actually. My only income other than this is from my parents overseas. So basically, I earn nothing ... |
|
|  |
Jazz D | If you work for a family member, do you have to pay taxes on the income? |
I'm gonna be working for my aunt pretty soon, and I'll be making about $10-$15 bucks an hour. I'm going to be filling order forms and such for her, and I would be doing that from my home. So, would I have to pay taxes on it?
Additional Details
It's not a company, she's just paying me to do some work for her on the computer. |
 |
 
leonard s
 |
yes
IRS regulations |
|
v b
|
Yes.
If she treats you as an independent contractor, you need to withhold 30% for taxes. |
|
viajero_intergalactico
 |
of course! |
|
Cadillacman
|
It doesn't matter if she pays you "on the books" or "off the books." It doesn't matter that it's a relative who is paying you. It doesn't matter if she pays you out of her personal money or out of her business. It doesn't matter if you work in your home, in her home, or in an office. What does matter is that if you have an income, you owe income taxes on it. There are certain minimum amounts that you don't have to pay on. There are certain deductions you can take. Other than that, you owe taxes on the income. |
|
Judy1
|
You are legally required to pay income tax on what you'll be earning. |
|
ninasgramma
|
You are not an employee. You are an independent contractor. When your net profit is $400 or more, you are required to file a tax return. You will owe Social Security and Medicare taxes of approximately 15% of your net profit.
If your net profit is less than $400, you will not have to file a tax return or pay any taxes.
You will owe income taxes only if your net profit is greater than $5,450. |
|
SG
|
I thought Cadillac was going to break into "Green Eggs and Ham".
As you've been told, it is considered taxable income. |
|
james m
 |
Whether you are considered an employee of your aunt, or an independent contractor, any money that you are payed for services rendered is required to be reported to the IRS, even if she pays you cash. If you don't report it, you are taking a chance on somehow being caught and charged with income tax evasion.
There are some tax advantages you have opportunities for if you are an independednt contractor, if you use the computer room soley for that purpose. Also, you may be able to deduct mileage.
You need to report the income also to pay into the Social Security system. To be fully insured by the S.S. benefits, you have to work 40 quarters. Not paying the S.S. tax could hurt you in the long run.
See a tax advisor. |
|
Jss
|
Yes, you must report this income. If you don't do it you may get into problem even after a couple of years.
You must know if you will be an employee or an independent contractor. If you are an employee, your aunt must also pay employer's part of FICA taxes.
Read this to know about Employee vs Independent contractor:
http://taxipay.blogspot.com/2008/03/w2-or-1099-employee-or-independent.html |
|
Jasmine
 |
First off, any wages that you make you will be paying taxes on. Now, the question is, is your aunt going to pay you through her business payroll or off the books? (Of the books meaning, just cash with no record of it). |
|
protoham
|
If she is your employer, she should be withholding taxes, Social Security and Medicade on you. If you are a contractor you should do it yourself, but you get to write off all expenses, like your home office, electricity, health insurance, etc. |
|
DJ
|
Ever heard of tax evasion? The IRS will be cracking down on these kinds of issues over the next ten years. Off the books or on the books - the IRS requires you to report all your income - it does not matter where that income comes from (family members, criminal activity, under the table payments). They even have a process for illegal aliens to report their taxable income. And as an independent contractor you will be subject to both income tax and self-employment tax. If your aunt gets audited and she deducted payments to you and did not issue a 1099 for those payments, the IRS can disallow the deduction and she will end up owing additional taxes. If she controls your work by providing your tools, telling you when to work and how to do the work then she could get into additional trouble with both the state and the IRS for avoiding employer FICA taxes and unemployment taxes...
Tax evasion & tax fraud - this is how the IRS got mobsters who could not be convicted of other crimes. |
|
huy p
 |
if that is a company you have to pay |
|
gracie slick
|
You're legally required to pay income tax on your earnings, and your aunt is legally required to report what she pays you to the I.R.S. --- in both cases if the earnings are over certain threshhold amounts that I don't know off the top of my head but that can be found at www.irs.gov.
However, most people in such situations do not report the income to the IRS, as there is not much chance of them tracing it.
Do what you think is best... |
|
LD
|
just tell her to pay you in cash and you wont have to pay taxes |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
15 | 20 minutes(s) ago
| | | |
15 | 55 minutes(s) ago
| | | |
15 | 1 hour(s) ago
| | | |
15 | 3 hour(s) ago
| | | |
15 | 7 hour(s) ago
| | | |
15 | 9 hour(s) ago
| | | |
15 | 10 hour(s) ago
| | | |
15 | 2 day(s) ago
| | | |
15 | 5 day(s) ago
| | | |
15 | 1 week(s) ago
| |
|
Homepage 
Financial
Forum 
Taxes 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
