Posts Tagged ‘money’
Paid Cash Taxes
May 16th, 2011
Paid Cash Taxes
Question: How do i file taxes when I am paid cash?
I work for my dad and he pays me cash so i guess technically it would be an “allowance.” I’m 19 and am looking to take out a mortage and purchase a house. Since I don’t show income and do not have a cosigner, i need to file taxes on my paycheck for the past six monthes. Does anyone know how i would go about doing that so I can show income and qualify for a loan?
Answer: It sounds like you could be considered a self employed contractor. You would file a schedule C with your form 1040 fo file taxes. You would need to know how much he paid you over the year, and technically he would need to provide you with a 1099.
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