Looking for a great fit LAC

BelknapPoint
Tue, 06 Feb 2018 01:15:35 +0000

So it seems that $433 in babysitting income is just fine. In fact, if I’m reading this correctly, one could make up to $6000 as long as she is a dependent and still not file.

No. The threshold for filing a return and paying self-employment tax is $433, unless the babysitter is a W-2 employee and the employee side of FICA is being withheld by the employer. My guess is that the vast majority of teenage babysitters are self-employed.

How would anyone know? No way the kids I know file taxes for babysitting. Some of them aren’t even 16.

Well, if you go by the rule “if no one knows than it’s not cheating,” I guess that works.