Since the care is in your home you would likely be paid in cash or will receive form 1099-NEC. In either case you would report that income as being self employed and pay income tax as well as self employment tax on that income. You can deduct any expenses related to your business activity. You would also be able to claim earned income credit if otherwise eligible and contribute to a Roth IRA to a maximum of $7,000 assuming you are at least age 50.
