by Trevor Sparks | Apr 24, 2023 | GTM Blog, Hiring an Employee, Household Payroll & Taxes, Tax & Wage Laws, Tax Season
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.
by Trevor Sparks | Apr 6, 2023 | GTM Blog, Tax & Wage Laws, Tax Season
Questionable tax practitioners and independent promoters selling schemes like CRATs and monetized installment sales can leave wealthy taxpayers vulnerable to underpayment tax penalties or civil fraud penalties.
by Trevor Sparks | Mar 24, 2023 | Hiring an Employee, Household Payroll & Taxes, Tax Season
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.
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.