How will I claim babysitting money on my taxes?
Asked by: lpliskin
Im looking into babysitting an infant for extra income since Im a stay at home Mom. Im trying to figure out what to charge and what the IRS will take for taxes once I claim them. For arguments sake, if I charge $ 300 a week (thats what a friend charges), what percentage will I in turn have taxed? Trying to figure out if this will be worth it. Thanks! (Info about me: I will babysit in my home, I have a 2 year old and a 2 month old of my own, I hold an elementary education degree, am 26 years old)
Linds- Your answer was NO help. Not to mention I DID say for arguments sake..I just wanted to know the taxes on $ 300 a week. I live in the suburbs of a big city, its expensive here. I know someone who charges $ 450 a week! Where I grew up, $ 100 a week was normal. All depends on the area. Anyways, I wasnt asking for anyone’s opinion on my prices, just info on the taxes. Thanks