work at home-taxes & witholdings

[mmtsh]

If I were to earn $ while babysitting in my home....

What do I need to do as far as taxes? Federal, state, local?

What about social security, medicare, and the unemployment witholdings?

TY!

[terces]

Are you operating your home as a home daycare? I used to do this several years ago and there is lots of information to learn about when it comes to taxes and deductions

Check out this link NNCC Business Management

Basically you pay fed/state taxes on your income. Social security, medicare taxes are paid through the self-employment taxes you pay.

[mmtsh]

no, not a daycare, it is private babysitting, one child, about 15 hours per wekk.

[Joan.of.the.Arch]

Yes, you need to pay taxes, but not an unemployment insurance assessment as you are self-employed. If your client is claiming child care expenses on his tax return, he will need your social security number to do that.