There is more to paying your household employee than just cutting them a paycheck each week. Taxes need to be paid (by the employer and employee) and insurance coverage may need to be in place, just to start. The four key reasons to use a nanny payroll service are: 1....
Here is a library of IRS publications for homeowners, covering many issues of concern. Title Publication Number Description Home Mortgage Interest Deduction 936 Includes general information on home mortgage interest, including points, how to report deductible interest...
A household employer must understand the federal, state, and local employment laws that pertain to his or her household. Many laws require the employer to obtain, file, and submit necessary paperwork. Tax laws also have paperwork requirements, such as reporting wages...
When the Affordable Care Act (ACA) went into effect several years ago, it provided transitional relief for small employers. As of July 1, 2015, it no longer offers that relief and the following Affordable Care Act changes for household employers are now true:...
After a brutal winter in many parts of the country, summer is finally here. While you’re enjoying the warmer weather, it’s still important to remain diligent about business and personal tax planning, especially if you are a household employer. Nannies,...