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nanny taxes (2017)

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  • nanny taxes (2017)

    Read other posts on this on the forum but could not find the answer. I would like to do the taxes myself.

    When do I pay pay medicare+social security taxes? Is this done monthly through the EFTPS?
    Some nanny tax guides mention EFTPS and others don't.

    https://www.eftps.gov/eftps/

    Anyone do nanny taxes on their own in Arizona? If so what state unemployment and state tax payment requirements do you follow for nanny taxes?

  • #2
    I do our nanny taxes (not in AZ). I withhold her portion and then have a set amount deducted from my biweekly paycheck. The IRS doesn't care where the money comes from, as long as it adds up at the end. I have never used EFTPS.

    For state unemployment taxes, I forget exactly how we set it up in our state, but they just mail the quarterly form and I send it back with the check for that quarter. You can PM me if you want me to email you our nanny taxes spreadsheet.

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    • #3




      Read other posts on this on the forum but could not find the answer. I would like to do the taxes myself.

      When do I pay pay medicare+social security taxes? Is this done monthly through the EFTPS?
      Some nanny tax guides mention EFTPS and others don’t.

      https://www.eftps.gov/eftps/

      Anyone do nanny taxes on their own in Arizona? If so what state unemployment and state tax payment requirements do you follow for nanny taxes?
      Click to expand...


      Publication 926 is a good place to start. EFTPS is unnecessary because you pay the taxes to the IRS via your personal withholding, estimated payments, and calculate the amount over- or under-paid on the Schedule H filed with your annual Form 1040.

      Information about AZ unemployment taxes here.

      Note that you also are required to give your employee notice about the EIC (Earned Income Credit). If s/he qualifies and wants to receive advance payments of EIC, you are obligated to calculate and include with their paycheck.
      Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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      • #4
        I do it once a year with my taxes as Joanna described.

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        • #5
          Thanks for the replies. I looked into AZ and I do have to pay quarterly AZ unemployment tax which is 2% of gross pay (if employee earns more than $1000.00 per quarter).

           

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          • #6
            I use sure payroll.  Yes it costs me $30 a month but I look at it as money well spent for the time it saves me.  Plus records are better than I would probably keep and they file the quarterly taxes for me.  I know many on this forum are DIY and would cringe at the $360/yr but for me its a good trade off.

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            • #7
              Could you add the nanny as an employee to a business and run it on the regular payroll?

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