![]() ![]() NANNYPAY DISCOUNT HOW TOIn this guide we make it easy to understand how to pay nanny taxes. Whether you call the person who looks after your kids a babysitter, a nanny, or simply by their first name, your tax liabilities are unambiguous. But for many reasons-some unexpected-I hired someone to care for my children at our house.Īccording to the IRS, I now had a “household employee,” which suggests mansions full of gardeners, chefs, personal assistants, and other luxuries way beyond my means.īut no matter. I knew the first option would be cheaper. That left me with the choice between a babysitter to watch my kids in her home, or one who would come to my house. Putting them in daycare wasn’t a great option for us because my freelance work schedule varies throughout the year. I have two children, a three-year-old and a five-month-old. ![]() On the other hand, many jobs pay no more than what one would pay for full-time daycare, particularly with more than one child in the family. If one parent stays home, the family saves money in the short-term, but the non-working parent loses current wages and future Social Security benefits. Loan Payoff Calculator: How Quickly Can You Repay Your Loan?įew choices are harder for parents than what to do about childcare.Auto Loan Interest Calculator: Monthly Payment & Total Cost. ![]()
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