The Social Security Administration released next year’s Employment Coverage Threshold for household employees, commonly called the “nanny tax threshold.” If a household employee earns more than this threshold, the family and the employee must pay Social Security and Medicare taxes.
Understand the differences between hourly and salary pay for nannies. Get practical guidance on calculating pay, overtime, guaranteed hours, and payroll cycles.
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.
Download our free guide and find out everything you need to know about paying your employee legally and filing your taxes.
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