Recalculate Your Nanny's Paycheck Withholding!

[webbkathy]

Everyone's paycheck calculations are changing, primarily as a result of the expiration of the so-called "Payroll Tax Holiday."

Our online calculator is fully updated with all 2013 rates! There is a quick FAQ about the changes, with a link to the calculator, here: http://www.info.4nannytaxes.com/blog-0/bid/93716/2013-Nanny-Payroll-Tax-Calculator-Fully-Updated

Happy 2013!

[Anonymous]

So does that mean for a short while we didn't have to pay taxes cause I was still having them removed all through December. I guess if that's the case then it sucks for me.

[webbkathy]

No, not at all 16:53. For two years, 2011 and 2012 the Social Security tax rate you paid went down from 6.2% to 4.2% (It never went down for your employer). That temporary rate change was called the "payroll tax holiday" (you can google it), and it expired, so the rate went back up.

Everyone always had to pay taxes, just the amount changed.

[Anonymous]

Great blog post, made it easier to explain today!
Thanks...

[Anonymous]

webbkathy thank you for clearing that up for me. I will need to talk to my employers to make sure my paycheck is done correctly. I recently got married so I'm assuming that might change my paychecks a bit to.

[Anonymous]

PP, does your employer withhold income tax or just FICA? If its just FICA (about 6%) gettingarried won't make a difference. If they withhold income tax, you need to fill out a new w-4 form ASAP!

[Anonymous]

They do withhold income tax. Looks like I will need to ask for that new w-4 form or I could just contact the company that they go through directly. I am able to access Homework Solutions to get what I need to file taxes every year so I'm pretty sure if I contact them they can give me a new w-4. I will try asking my employers first but they are lazy so more than likely I would never see it if I don't just ask the source directly for it.