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emc011075
emc011075, Tax adviser
Category: Tax
Satisfied Customers: 2319
Experience:  IRS licensed Enrolled Agent and tax instructor
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I will be doing elderly care family member and they will be

Customer Question

I will be doing elderly care for a family member and they will be paying me each week. How do I do my taxes on this income.
Submitted: 1 year ago.
Category: Tax
Expert:  emc011075 replied 1 year ago.

Hi. My name is ***** ***** I will be happy to help you.

You will claim the income on Schedule C as self employment income. You will be able to deduct certain expenses as well. The net profit will be subject to 15.3% self employment tax as well as income tax.

Expert:  emc011075 replied 1 year ago.
Here's Schedule C: http://www.irs.gov/pub/irs-pdf/f1040sc.pdf
IRS Q&A for caregivers:
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Family-Caregivers-and-Self-Employment-Tax
Let me know if you have any questions.
Expert:  emc011075 replied 1 year ago.

I see you read my respond. Do you have any questions? Is there anything else I can help you with today?

And if this answered your question, please take a moment to rate my response so that I may receive credit for assisting you today. However, if you need clarification, or want to discuss this issue further, let me know. Thank you.

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