Question
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Jan 31, 2008, 08:00 PM
| | Junior Member  | | Join Date: Oct 2006 Location: Dallas Area in Texas
Posts: 47
| | | paying ss and medicare tax
My wife babysits for our son. she will earn 400 per month. she is 6 quarters short on her retirement needed of 40. How can we report these new earnings to irs so she can receive the credit for the quarters she is working. I have googled everything and can not find this answer.
THANKS
Jim
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Answers
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Feb 1, 2008, 09:42 PM
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#2
| | | Tax Expert
Join Date: Feb 2005 Location: Atlanta, Georgia
Posts: 9,787
| Sorry, you CANNOT pay your wife to work as the mother of her own son.
The work has to be recognized as true work. |
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Feb 2, 2008, 06:22 AM
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#3
| | | Tax Expert
Join Date: Nov 2007 Location: CA
Posts: 2,008
| You can pay your wife, but baby sitting for your own child is not income. | |
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Feb 2, 2008, 11:59 AM
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#4
| | | Christianity Expert
Join Date: Nov 2005 Location: Atlanta GA
Posts: 24,562
| If she has real income, you report her income on your taxes as income and pay self employment taxes ( 15 percent) along with other state and federal taxes.
But again, it has to be real income. | |
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Feb 3, 2008, 02:56 PM
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#5
| | Junior Member
Join Date: Oct 2006 Location: Dallas Area in Texas
Posts: 47
| Sorry ATE, I typed badly. My wife babysits for our GRANDSON in our house 5 days a week, 9 1/2 hours per day for $100.00 per week. Now what I need so badly to do is report this income and have IRS send the Social Security and Medicare taxes to Social Security. Fr_Chuck --- I hope this is real income, we spend it!
Sorry I typed wrong
Jim | |
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Feb 4, 2008, 02:28 PM
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#6
| | Tax Expert
Join Date: Feb 2005 Location: Atlanta, Georgia
Posts: 9,787
| Okay, different story!
If you babysit for your Grandson, then, yes, you CAN claim it as income on Schedule C and SE and pay income and self-employment taxes on it. | |
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Feb 15, 2008, 03:56 PM
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#7
| | Junior Member
Join Date: Oct 2006 Location: Dallas Area in Texas
Posts: 47
| Quote: | Originally Posted by AtlantaTaxExpert Okay, different story!
If you babysit for your Grandson, then, yes, you CAN claim it as income on Schedule C and SE and pay income and self-employment taxes on it. |
I understand that part and actually did a practice return, but how does her social security and medicare get reported.
JIM | |
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Feb 29, 2008, 03:34 PM
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#8
| | Tax Expert
Join Date: Feb 2005 Location: Atlanta, Georgia
Posts: 9,787
| Answered via email. | |
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