FAQs
For your convenience, We have compiled a list of questions often asked by new clients. If your questions are not answered here or you need further information, then please contact us via e-mail or via phone at 603.382.8867 and we’ll be happy to help you. We look forward to hearing from you soon.
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14. What is the nanny tax?
The nanny tax is social security, Medicare, and federal unemployment tax that employers must pay if the wages of certain household workers exceed a threshold amount.
The nanny tax only applies to your employees. A worker is generally considered to be your employee if you directly supervise the work and you supply the tools or supplies necessary to do the job. If your worker came from an agency or runs his or her own business, the nanny tax may not apply. Employees can include baby sitters, nannies, housekeepers, gardeners, health aides, and other household worker
Social security and Medicare wage threshold is $1,600.The social security and Medicare wage threshold is $1,600 for 2008. This means that if you pay a household employee cash wages of less than $1,600 in 2008, you do not have to report and pay social security and Medicare taxes on that employee's 2008 wages, and $1700. for 2009.
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