Cyndi asked:
I am looking forward to becoming a full-time nanny for someone in the near future and I am wondering how would I have to file for taxes for a position like that? Also, wondering what is a normal pay rate for a full-time nanny?
I am looking forward to becoming a full-time nanny for someone in the near future and I am wondering how would I have to file for taxes for a position like that? Also, wondering what is a normal pay rate for a full-time nanny?
One comment
Comment by Judy on June 30, 2009 at 8:33 pm
If you are a nanny in someone’s home, what is supposed to happen is that they take out taxes and give you a W-2 just like most other jobs do. Ask them up front if they’ll be taking out taxes, and tell them you want them to – it’ll be simpler, and also cheaper, for you.
Often people illegally don’t do it that way. If you’re willing to go along with that, you’d file a form 1040, and schedules C or C-EZ and SE, at the end of the year. You’d use form 1040ES to make quarterly estimated payments for federal.