I am a babysitter?

Question

Well i am a full time babysiter and i was wondering how to get the most out of my taxes or if i will even file taxes this year its my first year being a full time babysitter. And can i save all of my recepits for EVERYTHING i buy not including things i use for babysitting only things for my self and use them for my taxes i heard something about this but not details. I baby sit at their house so i relly dont have any expenses except for gas.any help would be appreciated.

Answer 1

If the family is handling the taxes properly, then they'd be withholding taxes from your pay, and paying employer taxes.  Your options are to file form SS-8 and ask for a determination as to whether they should be treating you as an employee, or to just pay the extra tax yourself by filing a Schedule C-EZ for the income and associated expenses, schedule SE to calculate self-employment tax for social security and medicare, and a form 1040.

If you file a schedule C-EZ, then you can deduct items you bought for the kids, but not mileage to and from your home to theirs, you can only deduct the miles you drove taking the kids around

Not sure what you mean about keeping receipts for things you buy for yourself and using them on your taxes - most of those things  would NOT be deductible

Answer 2

If you are working at their house you should be getting a W-2 at the end of the year.  If that is the case you can not take a deduction for the gas that you use to get to the place of work.  You could deduct mileage if you cart the kids around but only if you itemize which is unlikely give what I would imagine is your salary.