Nanny Tax Threshold Increases for 2024
The Social Security Administration released its 2024 Employment Coverage Threshold for household employees. Next year’s coverage threshold increases by $100 to $2,700.
The Social Security Administration released its 2024 Employment Coverage Threshold for household employees. Next year’s coverage threshold increases by $100 to $2,700.
The Social Security Administration released its 2021 Employment Coverage Threshold for household employees. Next year’s coverage threshold increases by $100 to $2,300.
The Social Security Administration recently released its 2020 Employment Coverage Threshold for household employees. Next year’s coverage threshold increases by $100 to $2,200.
For families hiring a nanny or other employee to work in their home for the first time, the idea of nanny taxes may seem confusing or complex. Even experienced household employers could use a refresher. Understand your basic responsibilities as a household employer and get in the good graces of the IRS and your state tax agency.
Haven’t been keeping up with your household employment taxes? You could be in for a surprise. As an early gift to you, we’ll help you handle your year-end nanny taxes and maybe get you back on Santa’s nice list.