Consult this Nanny Tax Calculator,updated for 2014, and get a thorough look about the exact amount of tax you are going to pay. Also find our bonus tips and tricks.
One of the things that families overlook when hiring a caregiver or nanny is taxes and their calculation. The so-call nanny tax is applicable if the nanny is paid $1,900 or more in a calendar year. It is composed of the taxes the household withheld from the employee and the taxes the family pays as the employer.