Looking for a great fit LAC

BelknapPoint
Mon, 05 Feb 2018 23:16:44 +0000

Babysitting is a great way to get tax-free money for a teen and the hourly pay is usually better than most jobs

Be careful with this. If she earns more than a certain amount, she will need to file taxes. And she actually might have some self employment tax liability.

@BelknapPoint could you elaborate?

Money earned from babysitting is most definitely taxable earned income, and the recipient can be required to file a tax return and pay income tax and self-employment tax, depending on the amount of earnings (as little as $433 in the case of self-employment tax).