Am I able to charge my Dad mileage, or gas money or travel time to go to his house to take care of him? Is that taxable income?

Follow
Share

I want to charge my dad for my gas or mileage or travel time to come take care of him. I'm not charging to take care of him, just car expenses. Can I do that? Is that taxable income?

This question has been closed for answers. Ask a New Question.
1

Answer

Show:
You would need to prepare an employment contract with your father where he would pay you per hour, thus you would become an *independent contractor* and for income tax purposes you would need to file a Schedule C, and on that form you can put down expenses, mileage, etc. Being *employed* by your Dad, you will also need to pay payroll taxes or quarterly estimated income tax.

Check with the IRS or a neighborhood income tax preparer if you have any tax questions.
Helpful Answer (0)
Report

This question has been closed for answers. Ask a New Question.
Related
Questions