by Trevor Sparks | Mar 3, 2023 | GTM Blog, Household Payroll & Taxes, Tax Season
It is tax season once again and you are getting ready to file or have your accountant prepare your personal return. If you employed a household worker last year – like a nanny, housekeeper, or senior caregiver – you may be wondering … what is Schedule H, and do I need to file it? Here is everything you need to know including how to claim a tax credit for pandemic-related paid leave.
by GTM Payroll | Jan 19, 2023 | Household Payroll & Taxes, Tax Season
If you’ve hired a nanny, there are two nanny tax deductions you may be eligible to take.
by Trevor Sparks | Jan 13, 2023 | GTM Blog, Household Payroll & Taxes, Tax & Wage Laws, Tax Season
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.
by Trevor Sparks | Dec 8, 2022 | Household Payroll & Taxes, Newsworthy, Tax Season
The IRS recently reminded taxpayers about the new tax-reporting threshold when receiving payments through mobile payment apps like Venmo or PayPal. If you receive $600 or more from these third-party payment platforms for work, side jobs, or selling goods, you’ll get a Form 1099-K in January.
by Trevor Sparks | Dec 6, 2022 | GTM Blog, Household Payroll & Taxes, Tax & Wage Laws, Tax Season
It’s tax season! And one of the first steps for household employers is to provide Form W-2 to their workers. They will need this document to file their personal tax return. Here is how to prepare and create a Form W-2 for your nanny.
by Trevor Sparks | Mar 10, 2022 | GTM Blog, Household Payroll & Taxes, Tax Season
Child care can be costly but there are a few ways families can cut the expense of child care such as claiming the Child and Dependent Care Tax Credit when they file their personal tax returns. With an expanded credit for this filing season, it is a tax-savings opportunity not to miss.