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cateyemm
Twins!
Member since 7/10 8027 total posts
Name:
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Paying nanny on the books
How do you do it?
Ive asked around and so far it seems as if I need to fill out a 1099 and she said she is going to take cer of paying her taxes quarterly using her accountant. And that I can claim it as well.
Could it be that simple?
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Posted 9/25/14 5:17 PM  |
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want2beamom
Love my boys soooo much!!!
Member since 8/06 10164 total posts
Name:
True love doesn't end with happily ever after...
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Re: Paying nanny on the books
No.
Exactly what I was told too, by the sitter, her lawyer, and a couple of other people. Thankfuly I called my accountant and was told absolutely not.
Look on care.com They give a good explanation
ETA: I called my accountant, not my attorney. He said there is a way to do it, I forget the name of the form, but 1099 is NOT the way. It's actually illegal, as per him. We would have to claim her as a household employee.
Message edited 9/26/2014 7:37:55 AM.
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| Posted 9/25/14 7:21 PM |
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NYCGirl80
I love my kiddies!
Member since 5/11 10413 total posts
Name:
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Re: Paying nanny on the books
You need to apply for a federal employee ID number and she will have to fill out a 1099 and give you copies of 2 IDs. Then you pay her weekly (or whatever) but withhold taxes each week from her salary. Then you will have to file quarterly taxes. It's not hard, but you may want an accountant to run the numbers for you. You'll have to know how much to withhold each paycheck and then how much you have to pay each quarter.
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| Posted 9/25/14 7:26 PM |
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jab818
LIF Infant
Member since 10/12 254 total posts
Name:
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Paying nanny on the books
When I was a nanny my employer used breedlove for payroll services.
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| Posted 9/26/14 8:55 AM |
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VeeJay
Love baby feet
Member since 2/09 2894 total posts
Name:
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Re: Paying nanny on the books
you have FM
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| Posted 9/26/14 10:15 AM |
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cateyemm
Twins!
Member since 7/10 8027 total posts
Name:
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Re: Paying nanny on the books
thanks all
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| Posted 9/26/14 1:11 PM |
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Mara1017
LIF Adolescent
Member since 5/11 696 total posts
Name:
Mara
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Re: Paying nanny on the books
The information in this post is all wrong. If you are paying someone as an independent contractor you would give a 1099 and if they are an independent contractor you do not withhold taxes. If the person is an employee (which would more likely be the case for a nanny) you would not give a 1099 but instead a W-2 and there would be taxes taken. You also have to have other insurances. I would recommend going to an accountant and/or attorney and get the correct information and make sure you do everything right because there are consequences if you don't. For example, if you need workers compensation insurance and you do not have it, the workers compensation board will issue penalties for every day that you did not have insurance and should have.
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| Posted 9/26/14 3:05 PM |
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want2beamom
Love my boys soooo much!!!
Member since 8/06 10164 total posts
Name:
True love doesn't end with happily ever after...
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Re: Paying nanny on the books
From care.com
Is Your Nanny an Employee?
In short, yes. According to the IRS, a person is an employee if you're telling them what they will do and how they will do it, as opposed to an independent contractor that you tell only what results you're looking for. Families that misclassify their household employee as an independent contractor (by providing a Form 1099 for filing taxes) can be charged with tax evasion.
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| Posted 9/26/14 9:10 PM |
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