I am a 16 year old part-time nanny for a family. What is the maximum I can earn without reporting the income on my tax return? Right now, I earn $130 weekly.

ANSWER

Expert Todd Alexander's Answer:

If you are claimed as a dependency exemption by your parents in 2012, the most that you can earn is $3,800 without filing a tax return.  If nobody is claiming you as a dependent in 2012, then you can earn up to $9,750 in income without filing a tax return.  But it either case, you my benefit from filing a tax return to claim a refund of any Federal income tax withheld from your wages.

Todd Alexander, CPA

California

20 yrs experience

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31 Ans.