What happens if your employee provides an Individual Taxpayer Identification Number instead of a Social Security Number? While an ITIN and an SSN may seem similar, they are vastly different. In fact, employing a nanny who has an ITIN and not an SSN, can get you in some trouble.
Here are several important paid family and medical leave updates that impact household employers for 2023.
The IRS has released its cost-of-living adjustments for employee-qualified transportation fringe benefits for the 2023 tax year.
Summer is a popular time for minimum wage rate increases that apply to nannies and other household employees. It’s important to check the rate you’re paying a household worker to make sure it is not a wage violation. Rates are on the rise in several states and cities across the country.
A new tax reporting rule on mobile payments – aimed at businesses that underreport their income – may be having an unintended impact on wealthy families. Here’s why and how household employers should respond.
When you hire someone to work in your home, you become an employer. And with that designation comes employment tax responsibilities, which are commonly called “nanny taxes.” So how do you pay nanny taxes and make sure everything is correct? There are a few ways to tackle this including doing it yourself. If you’re ready to take this on, here are 7 steps to paying nanny taxes yourself.
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