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Nanny Tax Threshold Increases for 2020
The Social Security Administration recently released its 2020 Employment Coverage Threshold for household employees. Next year’s coverage threshold increases by $100 to $2,200.
The Social Security Administration recently released its 2020 Employment Coverage Threshold for household employees. Next year’s coverage threshold increases by $100 to $2,200.
Starting October 1, all Massachusetts employers, including families that have hired an employee to work in their home, have new responsibilities under the state’s Paid Family and Medical Leave law. Here’s what you need to know.
Don’t be fooled! You may need to pay nanny taxes when hiring a senior caregiver. If you’re considered their employer, you’ll need to comply with applicable tax, wage, and labor laws.
For families hiring a nanny or other employee to work in their home for the first time, the idea of nanny taxes may seem confusing or complex. Even experienced household employers could use a refresher. Understand your basic responsibilities as a household employer and get in the good graces of the IRS and your state tax agency.
Stay compliant with wage laws! Household employees need to be paid at least minimum wage (the highest of the applicable federal, state, and local rates). Here is your guide to July 1 minimum wage increases.
Before your household employee, like a nanny or in-home senior caregiver, begins work, there are some household employment forms that both you and your worker need to complete.