Spending the summer as a golf caddie? Some records—of your income—you’ll need to be keeping. I’m Amy E. Feldman.
Unlike the movie Caddyshack, where you’ll get nothing and like it! If you’re working as a caddie this summer, you are gonna get something—hopefully a lot of money. If you’re employed by the club, the club should deduct taxes from your salary and you’ll have to tell them about tips you’ve received so they can withhold taxes from those too.
If you’re not employed by the club but you’re an independent contractor with the club who’s hired—and paid—by the individual golfer, the club isn’t required to withhold your taxes but you still have to pay taxes on what you’ve been paid plus all the tips you get, including non-cash tips like tickets to sporting events and report them on your self-employed tax return so you’ll have to be keeping records of them. The complete consciousness you receive on your deathbed is not taxable, so you got that going for you. Which is nice.
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