Paying Nanny Tax

Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Nanny Salaries & Taxes and other Nanny topics.

Why should I pay nanny taxes?

Paying Nanny Tax

There are two strategies to reduce your nanny taxes: Flexible Spending Accounts and Dependent Care Tax Credits. Finally, if you don't pay the tax the IRS will catch you. Your income tax return asks "Did you pay anyone working in your home $1,300 or more?" If you mark off yes because you pay a nanny salary, the IRS will look for your nanny tax payments. If you say no, you compromise your federal income tax return and may be audited.

   

Comments

Nobody has commented on this tip yet. Be the first.



Name:


URL: (optional)


Comment:


Not finding the advice and tips you need on this Nanny Tip Site? Request a Tip Now!


Guru Spotlight
Candi Wingate