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General Discussion => Essentially Flyertalk => Topic started by: Kat Kid on March 08, 2013, 09:19:45 AM

Title: Tax time questions!
Post by: Kat Kid on March 08, 2013, 09:19:45 AM
Got a few here:

1)  wife applied for and was approved for compensation for her to continue her graduate education.  Ultimately, she never took the class, but her work still submitted the form to the IRS claiming the $1300.  Take this one up with her work?

2)  is there any documentation we need about payments provided to an in-home care provider of child care besides their SSN?  We don't get receipts, but we do have checks (but I'm e-filing) so just know that I can pull the checks if I am audited?

3)  I never received any tax form from my mortgage company to claim my mortgage interest deduction.  Do I have to request it?  Wut do?
Title: Re: Tax time questions!
Post by: CNS on March 08, 2013, 09:23:59 AM
Got a few here:

1)  wife applied for and was approved for compensation for her to continue her graduate education.  Ultimately, she never took the class, but her work still submitted the form to the IRS claiming the $1300.  Take this one up with her work?

2)  is there any documentation we need about payments provided to an in-home care provider of child care besides their SSN?  We don't get receipts, but we do have checks (but I'm e-filing) so just know that I can pull the checks if I am audited?

3)  I never received any tax form from my mortgage company to claim my mortgage interest deduction.  Do I have to request it?  Wut do?

2. I think you have to 1099 that undocumented care giver which will open her up to the eyes of the IRS

3. I've never had to request it, but you should have it by now.  Call them
Title: Re: Tax time questions!
Post by: Kat Kid on March 08, 2013, 09:25:29 AM
Got a few here:

1)  wife applied for and was approved for compensation for her to continue her graduate education.  Ultimately, she never took the class, but her work still submitted the form to the IRS claiming the $1300.  Take this one up with her work?

2)  is there any documentation we need about payments provided to an in-home care provider of child care besides their SSN?  We don't get receipts, but we do have checks (but I'm e-filing) so just know that I can pull the checks if I am audited?

3)  I never received any tax form from my mortgage company to claim my mortgage interest deduction.  Do I have to request it?  Wut do?

2. I think you have to 1099 that undocumented care giver which will open her up to the eyes of the IRS

3. I've never had to request it, but you should have it by now.  Call them

2)  so is this a licensing issue or a SSN issue?  Like can't I just hire whoever as long as the income is reported on her end and she is legal?  (we have two sitters so part of our reporting will be legit)
Title: Re: Tax time questions!
Post by: CNS on March 08, 2013, 09:27:36 AM
Got a few here:

1)  wife applied for and was approved for compensation for her to continue her graduate education.  Ultimately, she never took the class, but her work still submitted the form to the IRS claiming the $1300.  Take this one up with her work?

2)  is there any documentation we need about payments provided to an in-home care provider of child care besides their SSN?  We don't get receipts, but we do have checks (but I'm e-filing) so just know that I can pull the checks if I am audited?

3)  I never received any tax form from my mortgage company to claim my mortgage interest deduction.  Do I have to request it?  Wut do?

2. I think you have to 1099 that undocumented care giver which will open her up to the eyes of the IRS

3. I've never had to request it, but you should have it by now.  Call them

2)  so is this a licensing issue or a SSN issue?  Like can't I just hire whoever as long as the income is reported on her end and she is legal?  (we have two sitters so part of our reporting will be legit)

Probably getting out of my depth here(contractor not accountant), but I think both sitters should be considered as independent contractors and should be issued a 1099 form showing what you paid them.  I think.....

surely there are some accountacats on here that could back that up?
Title: Re: Tax time questions!
Post by: Kat Kid on March 08, 2013, 09:32:19 AM
Got a few here:

1)  wife applied for and was approved for compensation for her to continue her graduate education.  Ultimately, she never took the class, but her work still submitted the form to the IRS claiming the $1300.  Take this one up with her work?

2)  is there any documentation we need about payments provided to an in-home care provider of child care besides their SSN?  We don't get receipts, but we do have checks (but I'm e-filing) so just know that I can pull the checks if I am audited?

3)  I never received any tax form from my mortgage company to claim my mortgage interest deduction.  Do I have to request it?  Wut do?

2. I think you have to 1099 that undocumented care giver which will open her up to the eyes of the IRS

3. I've never had to request it, but you should have it by now.  Call them

2)  so is this a licensing issue or a SSN issue?  Like can't I just hire whoever as long as the income is reported on her end and she is legal?  (we have two sitters so part of our reporting will be legit)

Probably getting out of my depth here(contractor not accountant), but I think both sitters should be considered as independent contractors and should be issued a 1099 form showing what you paid them.  I think.....

surely there are some accountacats on here that could back that up?

Yeah, there is no way I'm submitting paperwork on the other one.  It hurts me a little, but it would hurt her a lot more.
Title: Re: Tax time questions!
Post by: Emo EMAW on March 08, 2013, 09:35:50 AM
#3.  You can access it online.  Usually there is a section titled "tax documents."
Title: Re: Tax time questions!
Post by: CNS on March 08, 2013, 09:37:03 AM
Got a few here:

1)  wife applied for and was approved for compensation for her to continue her graduate education.  Ultimately, she never took the class, but her work still submitted the form to the IRS claiming the $1300.  Take this one up with her work?

2)  is there any documentation we need about payments provided to an in-home care provider of child care besides their SSN?  We don't get receipts, but we do have checks (but I'm e-filing) so just know that I can pull the checks if I am audited?

3)  I never received any tax form from my mortgage company to claim my mortgage interest deduction.  Do I have to request it?  Wut do?

2. I think you have to 1099 that undocumented care giver which will open her up to the eyes of the IRS

3. I've never had to request it, but you should have it by now.  Call them

2)  so is this a licensing issue or a SSN issue?  Like can't I just hire whoever as long as the income is reported on her end and she is legal?  (we have two sitters so part of our reporting will be legit)

Probably getting out of my depth here(contractor not accountant), but I think both sitters should be considered as independent contractors and should be issued a 1099 form showing what you paid them.  I think.....

surely there are some accountacats on here that could back that up?

Yeah, there is no way I'm submitting paperwork on the other one.  It hurts me a little, but it would hurt her a lot more.

don't think of it as hurting you, you probably get care less expensive than you would if you went elsewhere.  win/win
Title: Re: Tax time questions!
Post by: steve dave on March 08, 2013, 09:55:53 AM
http://www.smartmoney.com/taxes/income/the-nanny-tax-9560/

http://www.sittercity.com/article/nannytaxes.html
Title: Re: Tax time questions!
Post by: Kat Kid on March 08, 2013, 10:16:14 AM
http://www.smartmoney.com/taxes/income/the-nanny-tax-9560/

http://www.sittercity.com/article/nannytaxes.html

good info