Tax Justice Network: U.S. is country with largest tax evasion Why Are Nannies Having a Harder Time Finding Great Jobs? The results of the Be the Best Nanny Newsletter monthly poll show that nannies blame illegal immigrants working at nanny jobs as the number one reason American citizens are having a hard time finding great nanny […]
Although it is estimated that 80% to 90% of household employers are not tax compliant we highly recommend paying nannies legally. Yesterday, we listed the risks for parents that don’t pay their nannies legally. Today, we are listing the benefits for household employees to be tax compliant. Click here for our review of the best tax software […]
Knowing the Risks of Tax Evasion, Why is Nannygate Still an Epidemic in America? It is estimated that 80% to 90% of household employers don’t pay taxes on their household employees. Nannygate is the popular term coined to describe these household employers who don’t pay taxes. Nannygate is an epidemic in America. There are many benefits […]
What Tax Software Do You Like? The pressure is off. I finally did my taxes yesterday! It only took me only an hour, despite my long list of itemized deductions, because I used TurboTax. TurboTaxI’ve used a few different brands of tax preparation software in the past few years. I like all of the tax […]
Are law-abiding nannies at a disadvantage when seeking jobs? The most common and most persistent problem we hear from nannies is that they have difficulty finding employment if they insist on being paid on-the-books while others get jobs because they agree to be paid under-the-table. The frustrated nannies report that the main reasons nannies agree […]
Health Insurance Tax Credit I work as a nanny and needed health insurance desperately. Lucky for me, Tom Breedlove of Breedlove & Associates answered my questions, and my employer’s questions, without a consultation fee! First, I went to the Heatlh Reform In Action web site to find the most affordable individual health insurance available in […]
Families who hire on a short-term (i.e. summer nannies), part-time, or shared basis have a unique tax advantage. Since employer taxes are tied to wages, these families typically have a much smaller tax obligation but still get to take full advantage of the tax breaks. Here’s an example: The Smiths hire a summer nanny and […]
Nanny Tax Dilemma: Nanny-Share Arrangements By Tom Breedlove A nanny-share is defined as two families sharing the expense of employing a nanny to care for their children as a group. The nanny and children may alternate between the two family homes, but care is provided to the children of both families as one job for […]
Nanny Tax Dilemma: Paying a Household Employee on the Company Payroll By Tom Breedlove This week we are discussing common nanny tax dilemmas. Yesterday, Tom Breedlove of Breedlove & Associates explained the common misperception that families can classify a domestic worker as self employed (an independent contractor). He explained that the IRS has ruled definitively […]
Tax Season Dilemmas for Nannies By Tom Breedlove There is a fairly common misperception that families can classify a domestic worker as an independent contractor if they want to. Thanks to misinformation floating around on the Internet — and sometimes even bad advice from a general tax professional — some families are misled into thinking […]
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