Does Hiring a Babysitter & Other Household Employees Affect Your Taxes?
Have you been using some help around the house? Hiring a babysitter or other house staff could be a luxury or a necessity. Regardless, this activity, under the right circumstances, could affect your taxes. If you hire a babysitter or other house staff, you may need to: Report the amount you paid to this employee to […]
Tax Tips for Families who Use a Nanny
Hiring a nanny will impact your life in many ways, including your finances. In addition to the salary you pay your nanny, you are expected to pay a combination of taxes. Neglecting to do so could lead to trouble with the IRS, including large penalties. Commonly referred to as the “nanny tax,” this is nothing […]
