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
Need a basic guide to investing? Learn investing tips and guidelines geared for millennials at H&R Block.
Learn how making an IRA withdraw less than your contributions will impact your tax return with advice from the tax experts at H&R Block.
Many entrepreneurs find themselves wondering exactly how Bitcoin is taxed. Our H&R Block Tax Pros are prepared to assist self-employed filers with Bitcoin taxation.
Learn more about taxes on bonuses that you may receive at your job, including holiday bonuses, signing bonuses and cash bonuses, with the help of H&R Block.