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Reply to "Taxes owed to IRS are sky high at the end of the year for Nanny shares"
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[quote=Anonymous]^ this exactly. The nanny families are withholding the correct amount if that was your only job. But once you put the two nanny jobs together on your tax return, it bumps you up to a higher tax bracket and you owe more. This sometimes happens to married couples as well, whose individual salaries put them in a lower tax bracket but when their salaries are combined, they bump up into a higher tax bracket. Ask your employees to withhold more from your paycheck. [/quote]
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