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Nannies and Taxes: Do the Right Thing and Profit, Too
There are reportedly more than a million nannies at work in the U.S., caring for other people’s children. That’s not so surprising, considering that many nannies today earn more than $50,000 per year, and some earn more than $100,000. Employing a nanny means more than conducting a lot of interviews and finding someone who knows CPR, though. There are important tax considerations, for example. First off, note that when it comes to taxes, nannies are in the same category as many other kinds of domestic workers (yard workers, health aides, house cleaners, and so on), even though they sometimes earn much more — and it can be a tough way to earn a living…Read More
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