What does nanny tax mean?
Definitions for nanny tax
nan·ny tax
This dictionary definitions page includes all the possible meanings, example usage and translations of the word nanny tax.
Did you actually mean nanticoke or nonnomadic?
Wikipedia
Nanny tax
The combination of payroll taxes withheld from a household employee and the employment taxes paid by their employer are commonly referred to as the nanny tax. Under current law, any family or individual that pays a household employee more than $2,000 (2016) a year must withhold and pay Social Security and Medicare taxes, also known as FICA. The law mandates that all domestic workers, such as cooks, nannies, housekeepers and gardeners, are subject to the nanny tax. Federal unemployment insurance taxes must also be paid if the household pays any number of employees a total of $1,000 or more in a calendar quarter. State unemployment insurance taxes have the same requirement with the exceptions of California ($750), New York ($500), and Washington, D.C. ($500) have lower thresholds. The IRS does not allow a household employer to classify a domestic worker as an independent contractor when the employer sets the hours and duties. The nanny tax can be legally avoided by hiring someone through an agency that carries the nanny or employee on its books as an employee. Parents that hire babysitters for their children are also required to pay the nanny tax if they exceed the $2,000 wage threshold for any one sitter. Employers of household workers can offer benefits such as parking, public transportation, college tuition and health insurance as non-taxable compensation.
Numerology
Chaldean Numerology
The numerical value of nanny tax in Chaldean Numerology is: 9
Pythagorean Numerology
The numerical value of nanny tax in Pythagorean Numerology is: 5
References
Translation
Find a translation for the nanny tax definition in other languages:
Select another language:
- - Select -
- 简体中文 (Chinese - Simplified)
- 繁體中文 (Chinese - Traditional)
- Español (Spanish)
- Esperanto (Esperanto)
- 日本語 (Japanese)
- Português (Portuguese)
- Deutsch (German)
- العربية (Arabic)
- Français (French)
- Русский (Russian)
- ಕನ್ನಡ (Kannada)
- 한국어 (Korean)
- עברית (Hebrew)
- Gaeilge (Irish)
- Українська (Ukrainian)
- اردو (Urdu)
- Magyar (Hungarian)
- मानक हिन्दी (Hindi)
- Indonesia (Indonesian)
- Italiano (Italian)
- தமிழ் (Tamil)
- Türkçe (Turkish)
- తెలుగు (Telugu)
- ภาษาไทย (Thai)
- Tiếng Việt (Vietnamese)
- Čeština (Czech)
- Polski (Polish)
- Bahasa Indonesia (Indonesian)
- Românește (Romanian)
- Nederlands (Dutch)
- Ελληνικά (Greek)
- Latinum (Latin)
- Svenska (Swedish)
- Dansk (Danish)
- Suomi (Finnish)
- فارسی (Persian)
- ייִדיש (Yiddish)
- հայերեն (Armenian)
- Norsk (Norwegian)
- English (English)
Word of the Day
Would you like us to send you a FREE new word definition delivered to your inbox daily?
Citation
Use the citation below to add this definition to your bibliography:
Style:MLAChicagoAPA
"nanny tax." Definitions.net. STANDS4 LLC, 2024. Web. 20 Apr. 2024. <https://www.definitions.net/definition/nanny+tax>.
Discuss these nanny tax definitions with the community:
Report Comment
We're doing our best to make sure our content is useful, accurate and safe.
If by any chance you spot an inappropriate comment while navigating through our website please use this form to let us know, and we'll take care of it shortly.
Attachment
You need to be logged in to favorite.
Log In