If you withhold income taxes from your domestic employee’s pay, encourage them to use the IRS’ withholding calculator and updated W-4 form to make sure they have the right amount of tax taken out of their paychecks.
When you hire private, in-home senior care, you may become a household employer. While this will give you more control over the employment situation, a number of tax, wage, and legal nuances come along with being an employer.
Your nanny benefits in a number of ways and gains protections when being paid legally. It far outweighs the small amount of money that will be taken out of their pay in taxes each week.
Get started now on preparing your nanny taxes. Here are the steps you (or your accountant) need to take when preparing your nanny taxes.
This guide shows states and cities with 2018 minimum wage increases.
If a household worker, such as a nanny or housekeeper, earns $2,100 or more in cash wages in 2018, Social Security and Medicare taxes, commonly referred to as “nanny taxes,” must be paid by the family and the employee.
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