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06-01-2007, 8:05 PM Nichole1906 Joined on 06-02-2007 Be nice - I'm new! Taxes????? I'm beginning a job as a nanny for a family that I have known for a while.  My question is about taxes, I'm not sure what to do about taxes.  Any help with this would be great.    Report

06-02-2007, 2:11 PM Chosen7Stone Joined on 10-21-2005 Tallahassee, FL Super Sitter!! Re: Taxes????? You and the family-employer need to both keep track of what you are paid. You can pay your taxes one of two ways: Pay your taxes quarterly.  Go into your local IRS office to sit down with somebody.  They'll tell you when your next quarterly payment is due (June 15th?) and how much you'll owe.  The problem with this is, unless you know exactly how much you're making, it would be hard to calculate.  However, if you have a regular schedule at a set rate with them, or a monthly salary, then it should be easy for them to figure out. Set aside 25% of everything you make.  When you file taxes, you'll be told how much you owe.  Make sure you pay it by the due date!  IRS is notorious for ridiculous late fees, even though you can file for extensions.  Also, be aware that if you choose this method, there is a fee involved for not paying it quarterly. When it comes time to file taxes, you both need to sit down together and agree upon what you made that year.  It's not a good idea for the two of you to report two different amounts.  The family will need your social security number to report what they paid to you. Make sure to keep track of write-offs.  This includes mileage, gas you used (not all gas you ever used...only gas you used to run errands with the kids, etc.), and anything you needed to purchase that was job-related (scheduler, and even gifts for the kids).  This will help keep what you owe to the IRS down. And I'll tell you in advance: you're not going to like how much you owe.  People like you and me who pay taxes out-of-pocket instead of getting it automatically deducted from our paychecks get a better picture of how overtaxes we are.  You might want to check out FairTax.org and join this grassroots movement to change how taxes are done in this country! *Love in Christ from Mary* 1 Peter 2:4-5 Vote my agency, Seminole Sitters, the "Best Overall Business" in Tallahassee for the 2007 Tally Awards at EverythingTallahassee.com!!!    Report