Don’t Get Into Nanny Tax Trouble [Infographic]
The nanny has come to play an increasingly important role in the lives of working professionals and business owners with children. Parents often have to run themselves ragged to keep up with the rigorous schedule of activities their children are involved in, not to mention balancing demanding careers. Finding the right nanny can be a huge help.
Along with having a nanny, though, comes the added responsibility of nanny payroll and handling nanny taxes (if you paid them more than $1,900 in 2015 or more than $2,000 moving forward). Like any payroll function for employees, it can become a complicated mess of forms and requirements.
To make sure you’re on the right track with your nanny payroll, we’ve created this handy infographic. Follow the game to see if you’re at risk of being fined. Nanny fines can total up to $25,000, so it’s not a risk you want to take.