The Household Employee Problem

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  • Published date: May 29, 2020 02:23
  • Modified date: May 29, 2020
    • 943 Kings Highway Suite 204 West Deptford, New Jersey, United States

This often overlooked bookkeeping and payroll tax requirement can cause a tangle of tax problems if not handled correctly. It ended a run for Congress by Caroline Kennedy (JFKs daughter) and killed a U.S. Attorney General nominees chances for appointment. Could you be impacted? This is what you need to know.

Nanny Tax Explained

In an effort to capture income from household employees, the tax code requires you to obtain employee information, pay the related state and federal taxes, and withhold taxes for anyone you employ around the house. The requirement comes into play if you pay any one individual $2,100 or more in 2019 (unchanged from 2018). You must then submit a W-2 for each of these household employees.

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Contact Person : Leon A. Elwell

Ph : (856) 853-5422

Address: 943 Kings Highway Suite 204 West Deptford, NJ, 08066

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Leon A. Elwell

Leon A. Elwell
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Phone/WhatsApp: 856-853-5422
Zip code: 08066
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