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SE MN & NE IA | Your tax person should be able to help you on this one. My understanding is your son could make up to $5000.00 and no taxes would need to be paid. Above that amount your son would need to pay some taxes. It would be up to the neighbor to report wages at the end of the year with a 1099 form much like you send your landlords for rent.
Could the neighbor pay him some "in kind" insetad of all paychecks? (gas for his car, gift cards, car repairs etc?) Just some ideas......I am no expert but your tax preparer might have some solutions.
Good for your son--nice to see young folk with ambition! | |
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How to pay help??
