Tag: taxes

Tax Credit for Summer Child Care

By A New England Nanny 35 0

Are you hiring a summer nanny to care for your children? Or will you be taking advantage of the many day camp options available during the summertime school break? While temperatures and extra expenses seem to escalate quickly during the summer months, the IRS has some good news for parents:  Those additional expenses may help […]

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Paying Your Nanny Off the Books: Not Worth the Risk

By A New England Nanny 33 0

Many household employers mistakenly assume that because the employment of domestic work is within their own home, they are unlikely to get caught paying their employee illegally. Because there is a long history of household employment being paid in this way, many employers assume that this is the accepted way of paying for work in […]

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Home Office Tax Deduction

By A New England Nanny 32 0

There is an option that makes it simpler for qualifying taxpayers to include a home office tax deduction. The IRS announced a simplified option that many owners of home-based businesses and some home-based workers may want to use to figure their deductions for the business use of their homes. Beginning this year, taxpayers can use […]

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The Benefits of Paying Your Nanny Legally

By A New England Nanny 29 (2) Comments

GTM Payroll Services estimates that there are more than two million household employees in the United States today. However, recent data compiled by the IRS show a startling number of household employers in noncompliance—whether or not intentional—with paying payroll taxes. The IRS is increasing its monitoring activities to ensure household employees are accurately being paid […]

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Tax Savings for Parents

By A New England Nanny 36 0

From IRS.gov Eight Tax Savers for Parents Your children may help you qualify for valuable tax benefits. Here are eight tax benefits parents should look out for when filing their federal tax returns this year. Dependents.  In most cases, you can claim your child as a dependent. This applies even if your child was born […]

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