Questionable tax practitioners and independent promoters selling schemes like CRATs and monetized installment sales can leave wealthy taxpayers vulnerable to underpayment tax penalties or civil fraud penalties.
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GTM Blog
How to Reduce Your Nanny Taxes
You figured out much you owe in nanny taxes when you employ someone to work in your home. Now the good news! Here are seven ways to reduce your nanny taxes that can save money for both you and your employee.
Illinois Set to Require Paid Leave for Any Reason
Under the Paid Leave for All Workers Act, household employers in Illinois will be required to provide up to 40 hours of paid leave during a designated 12-month period beginning in 2024.
Chicago Now Accepting Applications from Domestic Workers for One-Time $500 Relief Payments
In an effort to help populations that had difficulties accessing and qualifying for federal relief during the COVID-19 pandemic, the city will award payments to up to 7,000 household employees who meet eligibility criteria.
Valentine’s Day Traditions to Start with Your Family
Valentine’s Day is a time to celebrate love. Consider starting Valentine’s Day traditions with your family. Here are some ideas to get you started.
3 Fun Ideas to Celebrate Black History Month with Your Children
As we celebrate Black History Month in February, here are some resources and family activities to help your children understand and appreciate the importance of African-American history.
8 Step Guide to Getting Your 2022 Nanny Taxes Done
Still have your 2022 nanny taxes to knock off your to-do list? If you are a new household employer and taking on nanny taxes for the first time, this quick step-by-step guide will take you through the process. Even if you’ve put off anything to do with nanny taxes until now, do not worry.
IRS Issues Standard Mileage Rate for 2023
The IRS has increased the standard mileage rate for 2023. Household employers can use this rate to calculate the reimbursable costs of a worker operating their own car while on the job.
Celebrating MLK Day with Your Children: Resources for Families and Nannies
Here are some ideas and resources for you and your nanny to recognize Martin Luther King Day with children and community engagement activities to honor Dr. King.
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