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.
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.
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.
Jan 26, 2021 | COVID-19, Household Payroll & Taxes, Tax & Wage Laws, Tax Season
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.
Dec 18, 2020 | Domestic Workers' Rights, Labor Laws, Tax & Wage Laws
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.