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Employer Issues
Reply to "Question about nanny and taxes"
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[quote=webbkathy]OP: Employment taxes are an employer responsibility - these are Social Security, Medicare and unemployment taxes. You may chose to deduct your employee's portion (7.65% of gross) or decide to pay her portion in addition to your employer portion. If you fail to deduct you have decided to pay her portion for her! You can not have her submit her 7.65% and you submit your 7.65% separately - all the payments are due from you. Individual income taxes are the employee's responsibility. You are NOT obligated to deduct the nanny's income taxes, and if you do not deduct you don't have any financial obligation for the income tax. Most employers with a full time nanny will offer to deduct income taxes to help the employee avoid a situation where she owes considerable taxes at year end. The FAQ at 4nannytaxes.com steps you through this, and the paycheck calculator will do the computations for you. Kathy Webb HomeWork Solutions/4nannytaxes.com[/quote]
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