Ensure Compliance and Peace of Mind with Household Payroll
Are you a household employer grappling with the complexities of the nanny tax? Paying your domestic employees under the table might seem tempting, but the risks involved could lead to substantial fines. Many household employers are unknowingly non-compliant, putting their financial well-being at stake.
Pay Household Employees Without the Risk!
Steer clear of risks associated with under-the-table payments to household employees. Gleason Tax Advisory is here to simplify your household payroll process, making it as easy as child’s play.
✔️ Quick and easy payments with just a few clicks or automated re-occurring payments through auto-payroll.
✔️ Accurate calculation of Social Security, Medicare, Unemployment, and other taxes with each payroll run.
✔️ Swift and precise filing and payment of federal, state, and local payroll taxes.
✔️ Complimentary Direct Deposit option for your household employee(s).
✔️ Assistance in managing federal and state income taxes on behalf of your employees.
✔️ We file form 1040-ES on your behalf, accompanied by a signature-ready Schedule H for your tax filings.
✔️ We produce your employees’ W-2s at the end of the year.
Understanding the Nanny Tax
Despite its name, the nanny tax encompasses payroll taxes applicable to household employers hiring domestic help such as nannies, caretakers, or landscapers. This tax includes Social Security and Medicare taxes that employers must withhold and pay with each paycheck. Stay vigilant, as the threshold for the nanny tax may change annually, making compliance crucial.
Setting Up Your Household Payroll
Gleason Tax Advisory will help you with these steps to establish a hassle-free household payroll system:
- Determine if you meet the taxable threshold.
- Obtain an EIN as a Household Employer.
- Register as a Household Employer with State/Local agencies for necessary Withholding, Unemployment, and Local Tax IDs.
- Collect essential employee data.
- Choose your payroll schedule and check dates.
