Daycare.com Forum Daycare Forum

Go Back   Daycare.com Forum > Main Category > Daycare Center and Family Home Forum

Daycare Center and Family Home Forum Daycare Center and Family Home owners, Directors, Operators and Assistants should post and ask questions here.

Reply
 
Thread Tools Display Modes
  #1  
Old 01-12-2011, 10:22 AM
Liliya's Avatar
Liliya Liliya is offline
Senior Member
 
Join Date: Aug 2009
Location: Tennessee
Posts: 133
Default Taxes, Is It Possible?

My daughter has been working with me since June 2010 and I pay her weekly, but I did not pay any employee taxes.
My question: Is it possible to figure out who owes who?
I am going to use a tax person, but I just wanted to see what others think?
And another question: Can she do her own taxes? she lives with me.
Thanks.

Last edited by Michael; 01-12-2011 at 09:00 PM.
Reply With Quote
  #2  
Old 01-12-2011, 10:55 AM
marniewon's Avatar
marniewon marniewon is offline
Daycare.com Member
 
Join Date: Aug 2010
Location: Michigan
Posts: 895
Default

How old is she?
Reply With Quote
  #3  
Old 01-12-2011, 10:58 AM
Liliya's Avatar
Liliya Liliya is offline
Senior Member
 
Join Date: Aug 2009
Location: Tennessee
Posts: 133
Default

Quote:
Originally Posted by marniewon View Post
How old is she?
She is 18,,
Reply With Quote
  #4  
Old 01-12-2011, 11:24 AM
marniewon's Avatar
marniewon marniewon is offline
Daycare.com Member
 
Join Date: Aug 2010
Location: Michigan
Posts: 895
Default

Oh, then I can't really help you If she was under 18 you wouldn't need to take taxes out for her.
Reply With Quote
  #5  
Old 01-12-2011, 01:45 PM
Crystal's Avatar
Crystal Crystal is offline
Advanced Daycare.com Member
 
Join Date: Dec 2009
Posts: 3,955
Default

You can claim up to $600 quarterly for her without withholding. You can probably go back and figure it all out, do the withholding and then claim it all, but it would probably be easier to just claim $600 quarterly for her.

If she lives with you, you can still claim her on your taxes as a dependent.

That is what I would do.
Reply With Quote
  #6  
Old 01-12-2011, 09:00 PM
Michael's Avatar
Michael Michael is online now
Admin & Owner-Daycare.com
 
Join Date: Aug 2007
Location: Moorpark CA, Ocean Ridge, FL
Posts: 7,806
Default

She needs to do her own taxes.
Reply With Quote
  #7  
Old 01-13-2011, 11:00 AM
TomCopeland's Avatar
TomCopeland TomCopeland is offline
Business Author/Trainer
 
Join Date: Jun 2010
Location: St. Paul, Minnesota
Posts: 3,066
Default Employee

When you hire your own child age 18 or older you must treat this person as an employee. This mean withholding social security tax*, withhold federal and state income tax. You should check with your state department of revenue to see if you must pay state unemployment taxes or purchase workers compensation insurance. You must also be keeping good records of when she worked and what she did.

Your tax preparer can help you fill out the forms to catch up. You will owe a penalty.

* The new tax law says you won't withhold the employee share of social security taxes (6.2%) from her pay.
__________________
http://www.tomcopelandblog.com
Reply With Quote
Reply

Tags
employee taxes

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Taxes For Babysitting? Unregistered Daycare and Taxes 3 08-26-2012 09:44 PM
Taxes Buxterboo Daycare Center and Family Home Forum 0 06-14-2012 11:34 AM
Confused About Taxes (Quarterly vs Yearly +Spouse) Unregistered Daycare and Taxes 10 06-06-2012 06:24 PM
Paying Taxes Jero999 Daycare and Taxes 4 10-14-2011 03:46 PM
Real Estate Taxes....and Mortgage Interest My4SunshineGirlsNY Daycare and Taxes 11 01-23-2011 09:20 PM


All times are GMT -7. The time now is 12:42 AM.



Daycare.com         Find A Daycare         List Your Daycare         Toys & Products                 About Us

Daycare.com
Please read our Disclaimer before continuing.

Topics pertain mainly to the following States:

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming