Hiring a nanny can provide much-needed support for families, but it also comes with specific financial responsibilities. One of those responsibilities is the “nanny tax,” a federal requirement that ...

Figuring out nanny taxes and payroll for your clients with household help can be a hassle, not to mention time-consuming. But you need to keep your clients compliant so calculating nanny taxes “after ...

Do you have a household employee like a nanny, caregiver for an elderly relative who moved in with you, or a live-in housekeeper? You may have hired somebody to help out during difficult circumstances ...

I recently became the editor of Kiplinger Personal Finance magazine. To help ensure that I’m prepared to take on this exciting new role, my husband and I decided to hire a nanny to care for our two ...

You may think you can pay your landscaper, nanny or maid “under the table” and it’s no big deal. They just want cash and don’t care, so why not? After your "worker" leaves, he or she may file for ...

Families who hire nannies might be responsible for remitting payroll taxes, depending on how much the nanny is paid. On the bright side, some of these taxes can be offset through tax breaks. There are ...

Want to know how people who pay domestic helpers under the table get caught for dodging the IRS? They run for office. Or get put on a list of potential nominees for a high-profile cabinet position. At ...

A babysitter has irregular hours and may not make more than the nanny tax threshold ($2,400 in 2022). It may still be OK for your clients to pay babysitters with a mobile app. But those childcare ...

There are a couple of ways you might qualify for tax breaks if you hire a nanny. One is if you have a dependent care flexible spending account (DCFSA), and the other is if you qualify for a Child and ...