When preparing your personal tax return, you may be looking for ways to reduce your tax obligation. Can you claim your nanny’s wages for a tax break? Before filing your tax return, here are 8 questions (and one bonus question) to determine if you qualify for tax breaks.
You figured out much you owe in nanny taxes when you employ someone to work in your home. Now the good news! Here are seven ways to reduce your nanny taxes that can save money for both you and your employee.
If you’ve hired a nanny, there are two nanny tax deductions you may be eligible to take.
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.
A smart and simple way to save money on childcare – like wages paid to a nanny – is through a Dependent Care FSA offered through your employer. With many companies now holding open enrollment periods, now is the time to understand how they work and reduce your taxes.
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