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.
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 2024 taxes.
Learn why employee retention for family offices is crucial and discover effective strategies to build a strong team and protect your legacy.
Understand the difference between classifying household workers (such as nannies and caregivers) as 1099 contractors vs. W-2 employees. Misclassification has serious legal and financial consequences.
If you employed a household employee and paid them $2,700 or more in 2024, you are required to complete and submit a Schedule H along with your Form 1040.
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