I have owned my own employment law firm for just over 6 years and have multiple employees. I thought employing a nanny would be easy.
So you’ve hired your first nanny and now you want to know the 1,2,3 about the nanny tax. You don’t want to get that wrong! Sadly for busy moms, who don’t have time to worry about filing schedules and calculations, the nanny tax is a bit more complicated than 1,2,3. Here’s a quick overview for you.
Now that you know you’re responsible for paying the nanny tax, it’s time to roll up your sleeves, fire up your adding machine, don your green visor, and get to work.
Just when you thought being a parent was hard enough, now you hear friends talking about the “nanny tax.” And maybe you’ve read the headlines about big-name politicians getting burned during confirmation hearings because the opposition found out they didn’t pay their nanny taxes.
It is a moral dilemma that has significant financial and professional consequences.
As our lives seemingly becoming busier and busier with work, family and all of the logistical complications that come with these responsibilities, having a reliable nanny is a necessity for many parents.
As a working mom, you’re probably juggling a lot right now. The start of the new calendar year is one of the busiest times at work. School is back on, along with all of the extracurricular activities and time-consuming homework. Its cold outside, the kids are bored… and if you didn’t have your nanny to help, you’re not sure how you would survive.