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Hooray for the Internet! These days you can find online calculators to help you figure out how many calories you burn during exercise, calculators that convert currency, and even calculators to help you make important financial decisions. For those of you paying a nanny salary, the use of a nanny tax calculator will come in very handy.
Good ole Google will help you find one and from there it's just a matter of keying in the amount of nanny salary you pay, whether you pay weekly, bi-weekly, or monthly, where you live, etc. If you're going to use an online nanny tax calculator, just make sure it's specific enough and that it's current. Check to make sure that the rates the calculator uses are the equivalent of current income tax rates for the state in which you live. If you're not covering your taxes properly, that online nanny tax calculator might end up costing you more in the end. It's always best to pay your taxes right up front than be faced with fines and criminal prosecution.
After doing a search for an online nanny tax calculator, remember to have a look at the site it comes from. Usually these types of calculators are resources used by specific companies or agencies. These companies might hold the key to a wealth of resources related to nanny tax deductions, nanny tax forms, and nanny income tax in general. You may be required to create a free account to use their nanny tax calculators, and a fee for any further services. Look into it! It just might be worth your while.