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What else can I help you with?
Can you claim taxes on babysitting if the parents do not pay taxes?
Yes, if you file your babysitting income as self-employed
Does a teenager have to pay taxes on money that they make while babysitting?
Technically, yes. All income earned must have federal income taxes paid. State income taxes may also be owed. Fortunately, a minor's income tax rate is usually 15%.
Do I have to pay taxes on my babysitting income in Pa?
Yes, you are required to pay taxes on your babysitting income in Pennsylvania, as it is considered taxable income. If you earn above a certain threshold, you'll need to report this income on your federal tax return. Additionally, if you earn a significant amount, you may also need to pay self-employment taxes. It's advisable to keep accurate records of your earnings and expenses related to babysitting.
Is a teenager dependent required to pay employment taxes such as FICA and FUTA on money earned by babysitting?
You could, but you don't have to.
How do you claim babysitting on your taxes?
line 21 of 1040,if you did the babysitting.
Emancipation from your parents taxes if your not a minor?
At 18 you are an adult and if you no longer live with them or have them pay for your expenses they shouldn't claim you on the taxes.
Do Hannah Montana and Miley Cyrus both pay taxes?
NO she is a minor so that means no
Can you pay a relative for babysitting?
yes you can
Do I need to pay taxes on my part time babysitting job?
Yes. You'll need to report any earned income to the IRS. If all you have is a part-time babysitting job, it's unlikely you'll actually make enough to owe tax, however.
If you pay your minor dependent to do some piecework for your home business will he have to file income taxes?
Yes this could be possible.
What is additional income?
Additional income is income you make apart from you main occupation. This can range from scrapping metal to babysitting. Depending on what you do for this additional income, you may or may not have to pay taxes on it.
What taxes do you have to pay as an adult?
I'm not sure how to interpret your question.If you are asking what taxes to you have to start paying only when you become an adult, the answer is none of them. I can't think of a single tax that has an age limit. If a minor has a job and makes enough money, they have to pay income taxes. If a minor has investment income or an infant has an UGMA account, they have to pay taxes. If a minor buys cigarettes or liquor (even illegally), they have to pay excise taxes.If you are asking what kinds of taxes adults generally pay, the list is so long I'm not sure anyone has a complete list. Here is a bunch of them:income taxespersonal property taxesreal property taxesexcise taxessales taxestariffs/dutiespayroll taxesgross receipts taxesestate taxesinheritance taxestransfer taxesgift taxeshead taxespayroll taxesSocial Security taxesMedicare taxesoccupational taxesuse taxesamusement taxes
