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.
If you’ve hired a nanny, there are two nanny tax deductions you may be eligible to take.
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.
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.
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.
The pandemic, staffing shortages, and tax law changes have all helped create a massive backlog in resolving tax notices as well as processing income tax returns and estimated tax payments. What can household employers expect?
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