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Taxes?

post #1 of 8
7/26/11 at 9:47am
Thread Starter 

Do you claim your doula earnings on your taxes or do you work under the table?

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post #2 of 8
7/26/11 at 7:17pm

I claim it on my taxes because not doing so is illegal and quite honestly I wouldn't want to chance getting caught.  Call me paranoid, but that is me :)

post #3 of 8
7/27/11 at 7:27am

I have been wondering about how to do all this too. Right now I'm in hole with my start up expenses though. I need two paying births before the end of the year to be in the black.

post #4 of 8
7/27/11 at 7:44am

I pay taxes because I work for a large doula company that takes them out of my paycheck.  I would pay taxes anyway, but I way prefer having them taken out before I see the money then having to do the whole self-employment taxes thing.  That's no fun. 

post #5 of 8
7/27/11 at 8:05am
Quote:
Originally Posted by midnightmommy View Post

I have been wondering about how to do all this too. Right now I'm in hole with my start up expenses though. I need two paying births before the end of the year to be in the black.


The nice thing about having your own business is that you can also take a tax write off it you are in the whole.  Keep all of your receipts because you can claim a loss.

 

post #6 of 8
7/27/11 at 9:41am
Quote:
Originally Posted by momto9kidlets View Post




The nice thing about having your own business is that you can also take a tax write off it you are in the whole.  Keep all of your receipts because you can claim a loss.

 


That's what I was thinking. I may have to go to a tax professional this year though. Just to make sure I can everything claim what I think I can.

 

post #7 of 8
8/8/11 at 7:04am
Keep in mind, claiming a loss is only okay 2 out of 5 years or similar. Just something to be aware of.

I haven't claimed up until now, as I have been doing only 1 birth a month and I couldn't be bothered if I only had 3-6 clients a year. Then I wa working unpaid as a midwifery apprentice. Time to get my ducks in a tow as I'm going to be doing CBE starting Oct.




Ease exhaust any typos, set from my itouch.
post #8 of 8
8/15/11 at 7:47am

I have a friend that worked for H&R Block, and she once told me that you don't have to claim a business if you make under five thousand dollars, as it's considered a hobby. I'm not sure if that's true anymore though. That was a couple of years ago.

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