800-929-9213GTM’s Household Employment Blog
Power of Attorney vs. Guardianship: What’s the Difference?
Plan ahead for your loved one’s future. Understand the key differences between Power of Attorney (POA) and Guardianship, and learn which legal tool is right for your family’s needs.
Divorce or Separation: Who Can Claim a Child as a Dependent on Taxes
Navigating taxes after a divorce with children can be tricky. This guide simplifies the rules around claiming dependents, including eligibility requirements and available tax breaks for single parents. Learn who qualifies as the custodial parent and how to maximize your deductions.
How to Catch up on Nanny Taxes in 8 Steps
Whether you put off nanny taxes until now or are just realizing you have a household employment tax obligation, now is time to catch up on your nanny taxes. While it is much easier to track nanny tax withholdings with each pay period, you can “catch up” at the end of the year. It will take a little more time and effort on your part. Here’s how to catch up on your nanny taxes as you prepare your 2024 taxes.
Employee Retention in Household Staffing
Learn why employee retention for family offices is crucial and discover effective strategies to build a strong team and protect your legacy.
Everything Families Need to Know about the Child and Dependent Care Tax Credit
Families can take advantage of the Child and Dependent Care Tax Credit to save on childcare expenses. Wages paid to a nanny qualify for the credit. Here is everything a family with a nanny or other childcare needs to know about claiming this tax credit on their personal tax return.
Even Unintentional Nanny Tax Missteps Can Lead to Violations
Families who want to do nanny taxes the right way but make a mistake can still find themselves in trouble. Here are four easy – but costly – nanny tax missteps with tax, wage, and labor laws even when you’re trying to the right thing.
W-2 or Independent Contractor?
Understand the difference between classifying household workers (such as nannies and caregivers) as 1099 contractors vs. W-2 employees. Misclassification has serious legal and financial consequences.
Schedule H: What You Need to Know
If you employed a household employee and paid them $2,700 or more in 2024, you are required to complete and submit a Schedule H along with your Form 1040.
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