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[neurotic borderline mess] | Live-in nanny and paid cash. Do I have to file taxes? |
Im going to be a live-in nanny soon and Im still pretty new to it all. The employer is planning on paying me cash weekly. Do I have to worry about taxes and if I do then what is the process? She isnt planning on filing me anywhere on hers.
Additional Details
ok so im supposed to report my taxes. if she's just paying me cash how on earth do i record all of this?
should i just keep a log or something? how will they know its legal? will it get her into trouble for not claiming me on hers?
i'm 25 yrs old, ive been working "regular" jobs before this one and im legal. |
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goz1111
 |
From what you have described; it’s what we call being paid under the table, is it legal? No, does it happen frequently within the USA? Yes |
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Tomk
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As a Nanny, you are a 1099 contractor. This means you are essentially self employed running your own (nanny) business.
Because an independent contractor is considered self employed, he or she is essentially the employer and employee. Therefore, the 1099 contractor is responsible for withholding his or her own taxes and paying the total amount of the Social Security and Medicare taxes.
Because as 1099 contractor you are not making installments against your annual tax responsibility, as an employee does (by the withholdings made on his or her paychecks), you are supposed to make quarterly installments against your projected tax responsibility for the year.
You should save all pertinent business receipts for the year in order to claim these as business expenses. |
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WCU_Cat3
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Yes, you do still have to worry about filing taxes. Any income you receive must be filed on your taxes, to include "under the table" work and tips that you receive at a job. It is illegal for you not to.
However, if she isn't planning on filing you on her taxes, then there is no way for the IRS to know that you are working for her and it would therefore be very unlikely for you to get in any trouble, though I must stress that it is illegal for you to fail to report this (or any other) type of income. Especially since you are going to be a live-in nanny and it will be your primary mode of income. |
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Brad
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Technically you have to file taxes on any income. However, in your case I would not. Provided that you are 100% sure she is not going to file a federal form 1099 on you. If she files that form and you don't claim the income it will make it very easy for the IRS to audit you and then you will owe back taxes. If she does not file the 1099 you should be able to skim by with no problem, however that is not 100% legal. |
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hrblockrichardk
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You are a household employee. Your employer is required to report what she pays you and give you a W-2 is $1600 or more and you are 19 or older on January 1, 2009. I'll assume you are not the dependent of your parents or someone else.
You will be required to report as wages the amount on your W-2 or 107.65% of what you are paid in cash. If this plus your other income is less than about $9,000, then you will not have to file a tax return. If it is more than $9,000 then you will need to file a tax return and pay income tax on what your wages.
To help you plan, on the first $8,000-9,000 of income above the $9,000, your taxes will be 10%. So on $15,000 of earning, you would owe about $600 in income tax when you file in 2010 for your 2009 income.
Richard K |
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Chris S
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Yes you have to file a return. If you make less than
110,000 you can file a 1040 EZ. |
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Barack Hussein Obama Sr
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She needs to cover SS and minimum wages, keep track, and you need pay taxes on the money she pays you and the value of your room and board. If you don't and are picked up, all of you may be in trouble.
If you are an illegal on top of that, katie bar the door.
I'm glad I'm legal |
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Jss
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You are self employed or independent contractor. You must file your tax return if your self employed income is $400 or more. You will report your income and expenses on schedule C or C-EZ (Form 1040). This income is subject to SE tax at 15.3%. Read: http://taxipay.blogspot.com/2008/04/tax-filing-by-self-employed-sole.html |
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