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Daycare and Taxes>Please Help!
Unregistered 12:31 PM 02-12-2011
I'm babysitting for my cousin and she has filled for FSA daycare and I'm wondering if I will have to pay taxes on it?
TomCopeland 02:33 PM 02-12-2011
Any money you receive for caring for children must be reported as taxable income on Schedule C, no matter how small the amount. If you haven't been paid before now, and you start being paid you can now claim business deductions on Schedule C as well. Tom

Join me February 28th for a webinar "How to Reduce Your Taxes for 2010 and 2011" For more info:
Tags:babysitter, fsa
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