Feb 12, 2025 | GTM Blog, Household Payroll & Taxes, Tax & Wage Laws
Navigating taxes after a divorce with children can be tricky. This guide simplifies the rules around claiming dependents, including eligibility requirements and available tax breaks for single parents. Learn who qualifies as the custodial parent and how to maximize your deductions.
Feb 11, 2025 | GTM Blog, Household Payroll & Taxes, Tax Season
Whether you put off nanny taxes until now or are just realizing you have a household employment tax obligation, now is time to catch up on your nanny taxes. While it is much easier to track nanny tax withholdings with each pay period, you can “catch up” at the end of the year. It will take a little more time and effort on your part. Here’s how to catch up on your nanny taxes as you prepare your 2023 taxes.
Feb 7, 2025 | GTM Blog, Household Payroll & Taxes, Tax & Wage Laws
Families can take advantage of the Child and Dependent Care Tax Credit to save on childcare expenses. Wages paid to a nanny qualify for the credit. Here is everything a family with a nanny or other childcare needs to know about claiming this tax credit on their personal tax return.
May 10, 2024 | GTM Blog, Hiring an Employee
Another advantage of paying your nanny legally? You can use a Dependent Care FSA – offered through your employer – to get tax-free reimbursements on a portion of your nanny’s wages. Here’s how they work when you’re paying a nanny.
Mar 22, 2024 | Hiring an Employee, Household Payroll & Taxes, Tax & Wage Laws
Calculating nanny taxes is an important step when hiring an in-home caregiver for your children. It’ll help you understand your total budget for childcare beyond just the wages you’ll pay your nanny. Here’s what you need to know.