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.
Did you know that nearly half of U.S. states and dozen of cities and counties will boost their minimum wage rate at some point in 2024? Don’t get caught with a costly wage violation if your nanny’s pay rate slips below minimum wage.
The Social Security Administration released its 2024 Employment Coverage Threshold for household employees. Next year’s coverage threshold increases by $100 to $2,700.
The Chicago Paid Leave and Paid Sick and Safe Leave Ordinance will expand paid time off for workers in the city, including household employees, to 10 days of paid leave. It’s considered one of the most generous policies in the country. Here’s how household employers will need to comply.
Paying a nanny “on the books,” as opposed to “under the table” simply means you are doing things the right way and treating your nanny as a professional caregiver. You are paying them according to applicable tax, wage, and labor laws and withholding and remitting taxes appropriately. Here’s how.
What can you expect to pay in taxes when you hire a nanny? While all household employers pay taxes to the IRS, your total nanny tax obligation will depend on your state. We break it all down so you can understand how much you may pay in nanny taxes.
Download our free guide and find out everything you need to know about paying your employee legally and filing your taxes.
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