by Trevor Sparks | Jan 13, 2023 | GTM Blog, Household Payroll & Taxes, Tax & Wage Laws, Tax Season
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.
by Trevor Sparks | Dec 8, 2022 | Household Payroll & Taxes, Newsworthy, Tax Season
The IRS recently reminded taxpayers about the new tax-reporting threshold when receiving payments through mobile payment apps like Venmo or PayPal. If you receive $600 or more from these third-party payment platforms for work, side jobs, or selling goods, you’ll get a Form 1099-K in January.
by Trevor Sparks | Dec 6, 2022 | GTM Blog, Household Payroll & Taxes, Tax & Wage Laws, Tax Season
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.
by Trevor Sparks | Nov 18, 2022 | GTM Blog, Household Payroll & Taxes, Tax & Wage Laws
What happens if your employee provides an Individual Taxpayer Identification Number instead of a Social Security Number? While an ITIN and an SSN may seem similar, they are vastly different. In fact, employing a nanny who has an ITIN and not an SSN, can get you in some trouble.
by Trevor Sparks | May 27, 2022 | GTM Blog, Hiring an Employee, Household Payroll & Taxes
When you hire someone to work in your home, you become an employer. And with that designation comes employment tax responsibilities, which are commonly called “nanny taxes.” So how do you pay nanny taxes and make sure everything is correct? There are a few ways to tackle this including doing it yourself. If you’re ready to take this on, here are 7 steps to paying nanny taxes yourself.