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Reply to "Do you pay your nannies taxes?"
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[quote=nannydebsays]Several suggestions, based on the assumption that you are already withholding SS/Med and giving nanny a W-2: Start withholding Federal and State taxes based on the W-4 your nanny has filled out/needs to fill out. Stop expecting her to take care of filling quarterly - it's a hassle for her, and it's obviously not working. If you feel the need to offer a financial hand, do so with a small raise that will dull the pain of losing all the Fed/State taxes from her weekly paycheck. Take the time to determine if you are paying her an appropriate wage based on her experience, education, and job responsibilities, by using your mom network, or one of the "rate calculator" tools on the big nanny finder sites. If she's truly underpaid, give her a raise. Now, if you are 1099'ing your nanny, my suggestions differ: This year you need to suck it up and pay the taxes - I believe it might be your legal responsibility to do so, since you failed to properly withhold. Stop 1099'ing her and treat her as your employee ASAP. Have her fill out a W-4, and start proper withholding. It's going to suck for her to have to start paying taxes, but it's better to know what your take home is and budget for it than to be panicking about thousands owed. Consider that raise again, IF (and I do mean IF) she is underpaid based on the info you gather.[/quote]
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