Household Employment Taxes

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• Nanny Tax — A federal tax that must be paid by people who hire household help (a babysitter, maid, gardener, etc.) and pay them a total of more than a specified threshold amount during the tax year. The reason the IRS charges the nanny tax is because it… …   Investment dictionary

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• IRS Publication 926 — A document published by the Internal Revenue Service (IRS) that provides information for individuals who employ a household employee. Examples of household employees include maids, nannies, yard workers, drivers and caretakers. Employers of… …   Investment dictionary

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