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Employer Issues
Reply to "why are my taxes going up when I report nanny wages?"
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[quote=Anonymous][quote=Anonymous]If you owe in total, you are not paying/withholding enough. If you enter your quarterly payments in first, your owed taxes will go down. (Or your refund up) if you then enter the nanny wages, you increase your tax liability and you owe more. Turbo tax doesn't know or care what those quarterly payments are for, it has no idea you owe employment tax until you enter the wages.] Yes, that's exactly what happened. Thanks. I guess what I don't understand is, why the tax service wouldn't be taking enough out each quarter so that this doesn't happen. I'll call them Monday and see what they say.[/quote]
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