If you are the employer and the babysitter is your employee yes you would be required to withhold all of the necessary taxes and report the amounts that are withheld to the IRS as required and issue a W-2 form to your employee at the end of the year.
If the babysitter is self employed taxpayer NO then the baby sitter will be responsible for all of the required self employment taxes and income taxes on the net profit from the business operation.
Depending on where someone lives depends on the need to pay taxes on any inheritance they get from a living trust. The beneficiary of an estate from inheritance will need to pay taxes to take possession of assets.
You will need to deduct your own taxes from cash tips. You can do this by picking a certain percentage to take out and then put it in a safe or a bank account in case you have to pay in taxes for the year.
Yes
I think No
Estates pay taxes on income and may have to pay inheritance taxes.
Depending on where someone lives depends on the need to pay taxes on any inheritance they get from a living trust. The beneficiary of an estate from inheritance will need to pay taxes to take possession of assets.
You will need to deduct your own taxes from cash tips. You can do this by picking a certain percentage to take out and then put it in a safe or a bank account in case you have to pay in taxes for the year.
Yes, even if your company is failing you still need to pay taxes. Unfortunately, everyone is required to pay taxes despite debt.
No,paypal does not take taxes out of payments made to you
Yes, because they have to pay taxes. Yes, because they have to pay taxes. Yes, because they have to pay taxes. Yes, because they have to pay taxes. Yes, because they have to pay taxes. Yes, because they have to pay taxes.
People need taxes because it is part of the government's funding. They pay for the city workers.
If you take gross pay and take out taxes and fees you are left with net pay.
These taxes provide revenue to enable the government levying the taxes to pay for services they provide such as police and fire protection.
You do not need a tax return estimator when you have your taxes done. You need to have it before you get the taxes done so you will know what the taxes will be when you have to pay them.
usually it need pay taxes from abroad,abroad
They only need to pay the bare minimum.
No you do not need to pay taxes on labor.