The Social Security Administration released its 2024 Employment Coverage Threshold for household employees. Next year’s coverage threshold increases by $100 to $2,700.
Hiring household employees comes with responsibilities and legal obligations. Understand the essential aspects of hiring household employees, employment taxes, and how to ensure a smooth and lawful employment relationship.
Being a household employer comes with a fair share of paperwork. Getting set up as an employer, withholding and remitting nanny taxes, and taking care of year-end taxes all require forms to be filled out by you and/or your nanny. Here are the 10 nanny tax forms every household employer will need.
Paying a nanny “on the books,” as opposed to “under the table” simply means you are doing things the right way and treating your nanny as a professional caregiver. You are paying them according to applicable tax, wage, and labor laws and withholding and remitting taxes appropriately. Here’s how.
Discover the key aspects of household staffing including the essentials of hiring domestic help and the importance of a household employee payroll service to manage household staff.
What can you expect to pay in taxes when you hire a nanny? While all household employers pay taxes to the IRS, your total nanny tax obligation will depend on your state. We break it all down so you can understand how much you may pay in nanny taxes.