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Daycare and Taxes All things related to Taxes and running a Daycare post here. Topics of tax exemptions, forms, filings, tax write offs, IRS etc.

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Old 11-15-2016, 06:33 AM
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missT missT is offline
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Location: Kansas
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Question Help! Hiring Assistant 3 Hours a Week

Hi there, I've looked around on the forums for an answer but haven't quite found a clear one for my specific situation. I am hiring someone to come in for 3 hours every Friday. This is so that I can attend Rotary Club meetings and get paperwork done and prepare for opening a center (I currently have an in home daycare). My plan is to pay her $10 an hour to make it worth her time. She is a college student and doesn't have classes the hours I need her so it's just some extra income for her.
Now for the question part lol. I know that normally when hiring an employee you have to withhold a certain amount for taxes and stuff but I'm not sure where to start on this. I'm trying to figure out what I need to withhold and what for and what forms I need to fill out but I can't seem to find a good list of this info. Do I still need to pay worker's comp insurance for an employee who only works 3 hours a week? I'm excited to hire her, I'm just not sure where to start. Thanks for your help!
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Old 11-15-2016, 07:38 AM
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Blackcat31 Blackcat31 is offline
 
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Originally Posted by missT View Post
Hi there, I've looked around on the forums for an answer but haven't quite found a clear one for my specific situation. I am hiring someone to come in for 3 hours every Friday. This is so that I can attend Rotary Club meetings and get paperwork done and prepare for opening a center (I currently have an in home daycare). My plan is to pay her $10 an hour to make it worth her time. She is a college student and doesn't have classes the hours I need her so it's just some extra income for her.
Now for the question part lol. I know that normally when hiring an employee you have to withhold a certain amount for taxes and stuff but I'm not sure where to start on this. I'm trying to figure out what I need to withhold and what for and what forms I need to fill out but I can't seem to find a good list of this info. Do I still need to pay worker's comp insurance for an employee who only works 3 hours a week? I'm excited to hire her, I'm just not sure where to start. Thanks for your help!
I do not have employees so I am no help but if I had the same questions I'd start here: http://tomcopelandblog.com/?s=employees&x=0&y=0

Hopefully, that is atleast a start.
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Old 11-15-2016, 03:11 PM
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TomCopeland TomCopeland is offline
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Location: St. Paul, Minnesota
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Quote:
Originally Posted by missT View Post
Hi there, I've looked around on the forums for an answer but haven't quite found a clear one for my specific situation. I am hiring someone to come in for 3 hours every Friday. This is so that I can attend Rotary Club meetings and get paperwork done and prepare for opening a center (I currently have an in home daycare). My plan is to pay her $10 an hour to make it worth her time. She is a college student and doesn't have classes the hours I need her so it's just some extra income for her.
Now for the question part lol. I know that normally when hiring an employee you have to withhold a certain amount for taxes and stuff but I'm not sure where to start on this. I'm trying to figure out what I need to withhold and what for and what forms I need to fill out but I can't seem to find a good list of this info. Do I still need to pay worker's comp insurance for an employee who only works 3 hours a week? I'm excited to hire her, I'm just not sure where to start. Thanks for your help!
You need to withhold 7.65% of her salary towards Social Security/Medicare taxes. You need to pay another 7.65% out of your own pocket and send the money in quarterly using IRS Form 941. You need to withhold federal and state income taxes, based on how she fills out IRS Form W-4 (you may not have to withhold). You won't have to pay federal unemployment taxes unless she works 20 weeks in the year or your pay her $1,500 or more in a quarter. The tax is .6% of her pay. Pay this in at the end of the year using IRS Form 940. Whether or not you need to pay workers compensation insurance depends on the state you live in. Contact your state workers comp office. My book Family Child Care Tax Workbook and Organizer goes through how to fill out all these forms. My blog has articles about this: http://tomcopelandblog.com/top-articles-on-employees
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