Hello i have a hired a couple guys to remodel my house that partially burnt down i was wondering how the taxes work on them do i pay them or.do they pay there own?
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Your contractors pay their own taxes. If you are not running a business, you just pay the builders/contractors and let them deal with paying their own self-employment tax. Make sure you get hard copies of their invoices for your own records. You do not issue any sort of tax documents to them. Unless your home was damaged during a federally declared disaster (like a wildfire) there is nothing for you to deduct regarding the repairs. Casualty losses are not deductible unless you are in a federally declared disaster area.
Your contractors pay their own taxes. If you are not running a business, you just pay the builders/contractors and let them deal with paying their own self-employment tax. Make sure you get hard copies of their invoices for your own records. You do not issue any sort of tax documents to them. Unless your home was damaged during a federally declared disaster (like a wildfire) there is nothing for you to deduct regarding the repairs. Casualty losses are not deductible unless you are in a federally declared disaster area.
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