One of the most common questions (and misunderstandings) surrounding household employment is whether a family can provide their nanny a 1099 at tax time and consider them an independent contractor rather than a household employee. The short answer is “no.” Here’s why and answers to other questions you may have.
The International Nanny Association just released its latest Salary and Benefits Survey and the trends show that more and more nannies are being paid legally and gaining the standard benefits found in traditional workplaces. This means families may find it increasingly difficult to hire a nanny “off the books.” Here are our seven observations from the survey.
When preparing your personal tax return, you may be looking for ways to reduce your tax obligation. Can you claim your nanny’s wages for a tax break? Before filing your tax return, here are 8 questions (and one bonus question) to determine if you qualify for tax breaks.
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.
You’ve found the right nanny for your family and now you need to figure out how to pay your caregiver. A nanny is a professional with an important role in your family. You’ll need and want to pay your nanny legally. Here’s what you need to know when it comes to paying your nanny on the books.
It is easy to slip up – even unintentionally – when you employ someone like a nanny or housekeeper to work in your home. Here are some typical nanny tax mistakes made by families.
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