One of the most common questions (and misunderstandings) surrounding household employment is whether a family can provide their nanny a 1099 at tax time and consider them an independent contractor rather than a household employee. The short answer is “no.” Here’s why and answers to other questions you may have.
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 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.
It’s that time of year again. Here’s what you need to know if employed someone to work in your home last year and how to file your nanny taxes in 2021.
As 2020 winds down, let’s look ahead to the new year. With ever-changing tax, wage, and labor laws and a new administration, here are 6 things to pay attention to for household employment in 2021.
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