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What Nanny Tax Deductions Can I Claim When Paying My Nanny Legally?
If you’ve hired a nanny, there are two nanny tax deductions you may be eligible to take.
8 Step Guide to Getting Your 2022 Nanny Taxes Done
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.
IRS Issues Reminder About New Tax Reporting Rule for Payment Apps
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.
How the Child and Dependent Care Tax Credit Helps Families
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.
IRS Experiencing Tremendous Delays Processing Tax Notices, Income Tax Returns
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?
Tax Day Moved to May 17
Due to the pandemic, the IRS has extended the time individuals have to file their tax returns. Tax day has been moved to May 17, 2021. Here’s what you need to know.
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