From Paycheck to Tax Return: A Nanny's Guide to Federal Income Tax Withholding
Discover how to navigate federal income tax withholding as a nanny. From understanding your W-4 form to utilizing the IRS Tax Withholding Estimator, this guide helps you ensure accurate tax deductions and avoid surprises at tax time.
Unlocking Savings: How Legal Nanny Payments Bring Tax Breaks and Credits Your Way
Investing in legal nanny payments not only ensures compliance but opens the door to significant tax breaks and credits. Discover how prioritizing legality in payroll can be a strategic financial move, offering both peace of mind and valuable savings for your family's future.
How to Manage Household Payroll On Your Own
How to Manage Household Payroll On Your Own
Managing payroll for household employees like nannies or housekeepers can feel overwhelming, but it’s essential to ensure compliance with tax and labor laws. If you pay someone $2,800/year or more, or $1,000/quarter, you're considered a household employer, and these 12 steps outline how to do it legally. From verifying work authorization (Form I-9) and setting up an Employer Identification Number (EIN) to registering with your state, securing workers’ compensation, and withholding taxes, this guide walks you through the process.
Each step, including quarterly filings, year-end W-2s, and adherence to the Domestic Worker’s Bill of Rights, ensures you protect both your household and your employee. Tools like Nest Payroll can help streamline these requirements, making household payroll management easier than ever.