Why it’s a Bad Idea to Pay a Nanny Half on and Half off the Books
For a few reasons, a nanny may want to be paid half on and half off the books. Perhaps they qualify for a health insurance subsidy that will disappear if they make too much money. Or they want a higher take-home pay and not fulfill their entire tax obligation. To a...
IRS Releases 2021 Contribution Limits
The IRS has released its cost-of-living adjustments, which impact a number of contribution limits for the 2021 tax year. Contributions are made on a pre-tax basis, which can reduce the amount you and your employee owe in taxes. Plus, offering benefits is a great way...
ICHRA: A New Health Benefit Option for Household Employees
There’s a new acronym in the world of health benefit options that may appeal to household employers who wish to provide a tax-free health benefit to their employees. ICHRA stands for Individual Coverage Health Reimbursement Arrangement and is available for employers...
