The CARES Act required household employers to provide sick and family leave to household employees in the event of illness. If household employers had to cover these family and sick leave pay costs, they can take a dollar for dollar tax credit and reduce the amount of money paid when sending...
Get nanny and caregiver questions answered, and discover household payroll and tax discussions from HomeWork Solutions. Check out our official blog today.
Despite the publicity about the "nanny tax" (which includes Social Security, Medicare (collectively, FICA) and federal unemployment tax (FUTA)), many household employers still pay their babysitters and housekeepers in cash, without withholding taxes or filing the correct forms. The costs of househo...
Get nanny and caregiver questions answered, and discover household payroll and tax discussions from HomeWork Solutions. Check out our official blog today.
I’ll close by addressing a common counter-argument, which is that people who make dumb choices can impose costs on the rest of society. But if people drive while drunk or stoned, focus on penalizing the people who make those bad choices so that they will have an incentive for more respo...
Insurance Costs: Storing actual property calls for assurance policy cover opposed to theft or smash.Tax Implications of a Silver IRA RolloverUnderstanding tax implications is needed whilst concerned about this direction:Tax-Deferment Benefits: As with regular IRAs, contributions continue to be tax-...
When families begin considering in-home care—whether for a child or an aging loved one—questions about costs come up quickly. One of the most common: Are these expenses tax deductible? The answer is: sometimes, yes. But it depends on your situation and the type of care provided. Read ...