Hi Laura, there are companies available that will handle this entire process for you. An example would be homeworksolutions, but there are other agencies available. If you do a google search for payroll services for caregivers, you should be able to find several agencies that can provide you a paycheck, withhold the appropriate taxes, and even provide you a 1099 form at year end. Your father will have to pay a fee for this service, but they will handle everything for you. You should have a contract with your father (you can even google these), and receive what would be considered a "reasonable fee". "Off the record", if your father is giving you a few dollars here and there in cash, you may be able to get away with not reporting this. If he is giving you a regular salary then you will probably need to set up reporting for this. You may want to speak to a financial advisor or elder care attorney to get advice.
Thank you Everyone, At first my father was gifting me and then I realized I wasn't paying into my social security, Yikes! I am both POA and executer of the will. Legally speaking, as the executer of the will my fathers wishes are to have the estate divided equally, but the executer has final say on how the money is spent and divided also if anyone disputes how the executer spends the money that person forfeits any right to the inheritence. When I tried to show my youngest brother Dad's finances he said he didn't want to see it, that I was doing an incredible job and should do what I think is fair. My eldest brother came to visit and said I hope Dad is paying you, and Dad said you must pay into your S.S. I sat down with both brothers and told them Dad would be paying me the same as when I worked outside the home. Being that I was waiting tables prior to moving in with Dad, no one panicked, LOL. Sooo, tomorrow I have an appointment with the woman at H&R Block that handles my Dad's taxes. Thank you all for such great advice.
At first my father was gifting me and then I realized I wasn't paying into my social security, Yikes! I am both POA and executer of the will. Legally speaking, as the executer of the will my fathers wishes are to have the estate divided equally, but the executer has final say on how the money is spent and divided also if anyone disputes how the executer spends the money that person forfeits any right to the inheritence. When I tried to show my youngest brother Dad's finances he said he didn't want to see it, that I was doing an incredible job and should do what I think is fair. My eldest brother came to visit and said I hope Dad is paying you, and Dad said you must pay into your S.S. I sat down with both brothers and told them Dad would be paying me the same as when I worked outside the home. Being that I was waiting tables prior to moving in with Dad, no one panicked, LOL. Sooo, tomorrow I have an appointment with the woman at H&R Block that handles my Dad's taxes. Thank you all for such great advice.