Question: Can you tell me if the money that I receive from a Personal Care Contract is subject to self-employment tax? I know that it is subject to ‘income tax’.
Yes, the money you receive under the Personal Care Contract otherwise known as a Personal Service Contract will be subject to self-employment tax treatment. The tax situation causes some families to look for other solutions to protect the parent’s money.
Attorney I. Michael Tucker
Altamonte Springs, Florida
Continue reading to make the most informed decision for your family.
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