Daycare.com Forum Daycare Management Software

Go Back   Daycare.com Forum > Daycare and Taxes

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.

Reply
 
Thread Tools Display Modes
  #1  
Old 02-12-2011, 01:31 PM
Unregistered
Guest
 
Posts: n/a
Default Please Help!

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?
Reply With Quote
  #2  
Old 02-12-2011, 03:33 PM
TomCopeland's Avatar
TomCopeland TomCopeland is offline
Business Author/Trainer
 
Join Date: Jun 2010
Location: St. Paul, Minnesota
Posts: 3,034
Default Income?

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: http://www.daycare.com/news/taxes/to...d-webinar.html
__________________
http://www.tomcopelandblog.com
Reply With Quote
Reply

Tags
babysitter, fsa

Thread Tools
Display Modes

Posting Rules
You may post new threads
You may 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


All times are GMT -7. The time now is 11:59 PM.



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