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.
You’ve found the right nanny for your family and now you need to figure out how to pay your caregiver. A nanny is a professional with an important role in your family. You’ll need and want to pay your nanny legally. Here’s what you need to know when it comes to paying your nanny on the books.
Under the Paid Leave for All Workers Act, household employers in Illinois will be required to provide up to 40 hours of paid leave during a designated 12-month period beginning in 2024.
It is easy to slip up – even unintentionally – when you employ someone like a nanny or housekeeper to work in your home. Here are some typical nanny tax mistakes made by families.
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 is delaying the implementation of a new tax reporting threshold for mobile payments that was set to take effect for the upcoming tax filing season. Here’s what it means for babysitters and household employees.
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