INA Weekly Brief

Tag: Nanny Taxes

What Ivanka Trump’s Proposed Changes to the Child Care Tax Credit Can Mean to the Nanny World

  When President Trump laid out his vision for America to Congress last week he highlighted his vision to make tax policy around child care more family friendly. Ivanka outlined a plan to allow families to deduct child-care expenses from their taxable income, with the amount capped at the average cost of child care in their… Read more »

Tags: , , | March 20, 2017

Four Tips for Avoiding Household Employment Tax Mistakes

By Tom Breedlove of HomePay by Breedlove   When a family decides to hire a nanny to care for their kids, both parties are completely focused on fit – financial, schedule, personality, etc. Once everything is aligned between family and caregiver, the final step is to make sure all the tax and legal aspects of… Read more »

Tags: , , | March 13, 2017

Nanny Employment Labor and Tax Law Changes for 2015

The rules and regulations surrounding domestic or household employment are constantly evolving. Here is a quick glance of 2015 household employment regulations. $1900 The wage base that triggers an employer’s responsibility for household employment taxes – the so-called “nanny tax” – continues to be $1900 of wages paid in a year. This applies to all… Read more »

Tags: , | January 20, 2015

Nanny Agency Tips: Talking to a Family about Payroll and Nanny Tax

The Nanny Tax Conversation: Nanny Agency Tips You are helping a new client family do a needs assessment prior to beginning the nanny search.  During the course of the conversation you query them about their childcare budget. How much do they plan to spend on their nanny? The family throws out a weekly number that sounds… Read more »

Tags: , , | August 18, 2014

Avoiding The “Nanny Tax” Trap

As tax season fast approaches, it’s in your best interest to understand exactly which taxes you are required to pay if you employ household workers. In short, household employers are obligated to file state and federal taxes on behalf of their employee or risk the stiff penalties that come along with filing falsely- even if… Read more »

Tags: , , | January 13, 2014