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The “Nanny Tax” Must Be Paid for Nannies and Other Household Employees
If you employ a household worker who isn’t an independent contractor, you may be required to pay employment taxes on the worker’s cash wages. This is commonly referred to as the “nanny tax.” In 2024, when a household employee’s cash wages reach at least $2,700, you...
Reminder: Rules for Depreciation and Expensing
Reminder: Rules for Depreciation and Expensing As part of the final guidance issued that pertains to the Tax Cuts and Jobs Act of 2017, new rules and...
What Is the Credit for Other Dependents?
The credit for other dependents is a tax credit available to taxpayers for each of their qualifying dependents who can't be claimed for the child tax credit....

