Tax Considerations When Hiring Household Help
There are several tax implications to consider when hiring someone to help around the house with tasks like babysitting, cleaning or lawn care. Disregarding the need to pay taxes on these employees can result in stiff penalties. This article outlines key issues like defining the responsibilities of a household employee, determining their legal status, and the requirements for paying employment, Social Security, and Medicare taxes.
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Your tax advisor at Sharrard, McGee & Co., PA can answer your questions about how hiring household help may impact your tax liability. Call (336) 884-0410 in High Point or (336) 272-9777 in Greensboro.
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BUSINESS
Tax Preparation Service
Sharrard, McGee & Co., PA
1321 Long St, High Point, NC 27262