I have been tutoring elementary kids privately and received cash for it. I thought it would not be counted as a taxed income job, but when I searched it up today, it said tutoring and being cashed still needed tax return. I wanted to put tutoring on my resume for colleges, but since I haven’t been reporting my income, I won’t be able to fill in information about my job on FAFSA ( the tax income part). Would I get caught legally if I put my job on my resume without filling in the FAFSA tax return questions? Also, anyone wanna assure or correct my knowledge on private tutoring tax return?
Money you earn from a job, even private tutoring, is taxable. How much money did you earn in 2016?
Around $90-100. I started late in the year
If in 2016 the total amount your earned from working (earned income) was no more than around $100, and you didn’t have much in unearned income (savings account interest, investment earnings, etc.), then you probably weren’t even required to file a tax return. Read IRS pub. 17 (https://www.irs.gov/pub/irs-pdf/p17.pdf); it’s a good primer for when and how to file federal taxes, and since you’re self-employed, you need to know the basics so that you can stay in compliance with the law. Important to know: the liability for owing self-employment tax starts at $400 in self-employment income earned for the year. If at the end of this year you will have earned more than $400 from tutoring, you will need to file a 2017 income tax return early next year.
It sounds like can safely put your tutoring job on your resume, and complete the 2018-2019 FAFSA reporting that you did not file a tax return in 2016 (because you were not required to).
But still put on the FASFSA that you earned $100.
And kudos on reading up on this stuff! Not many do.