When it comes to childcare, the household employer tax may seem too expensive for many families. Since the IRS considers nannies as “household employees”, hiring a nanny does bring on significant tax liability.
However, before you decide against hiring a nanny, you should know about what vital tax breaks that can, in some cases, counter the initial tax liability. In some cases, this can make hiring a nanny virtually tax-free, and you may end up earning much more tax credit than nanny tax liability!
Riveter Consulting Group, one of the most seasoned recruitment agencies in Los Angeles, California, lists down 2 ways that you can receive tax breaks when paying nanny salaries:
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