How much can I make as a daycare provider before I am responsible for reporting child care income?
If you provide daycare services with the intention of making a profit, you’re considered self-employed and responsible for reporting child care income. So, report self-employment income and expenses on Schedule C. If your net income minus expenses is $400 or more, you’ll also need to:
- File Schedule SE
- Pay self-employment taxes
If you are selling items at a farmer's market, learn how to file your taxes with H&R Block. From cash income to bartering, these tax tips will help.
The gig economy and taxes go hand-in-hand. If gig work is your primary form of income, review these important tax tips from our H&R Block tax professionals.
Congratulations on the Bonus! Learm more about the tax rate at H&R Block - whether you receive a holiday or cash bonus, it will apply to you.