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12-19-2012 at 2:46 PM
theabbey5
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Joined on 10-18-2011
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theabbey5 is not online. Last active: 02-08-2013, 10:09 AMBronze

Nanny pay questions

We are hiring our nanny to start in January. I'd like to not have to worry about taxes until year end and have her simply keep up with taxes. I've looked into 4nannytaxes.com and found it to be pretty complicated. The nanny is fine with cash each week and paying at year end. Who does this and what do you recommend??

Lionyl Osborne "Lio" is here! May 23rd 2012 at 2:54am 8lbs 4oz 21inches Born at 37weeks 6days
DD #1 born 9/3/2003 - 8 years old - 3rd grade!
DD #2 born 3/22/2007 - 5 years old - in full time preschool

 
12-19-2012 at 3:01 PM
Iblametheb...
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Joined on 10-13-2008
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Iblamethebeer is not online. Last active: 05-22-2013, 6:01 AMBronze

From what I remember, you have to report and pay estimated taxes quarterly.

And yes, it is a PITA and one of the perks of daycare is not dealing with taxes :)


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12-19-2012 at 9:08 PM
nosoup4u
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Joined on 04-06-2005
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nosoup4u is not online. Last active: 05-21-2013, 11:52 PMGold
Do you have a CPA? My FIL is one, and will do the taxes for us. I think other pplon here have their CPAs do it, too.

DS1 - Feb 2008

DS2 - Oct 2010 (my VBAC baby!) 

12-20-2012 at 9:21 AM
hocus
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Joined on 02-01-2005
New York
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hocus is not online. Last active: 05-21-2013, 8:38 PMGold

I don't think you can do it that way. Your nanny is not a contractor -- you are her employer which means you have to withhold for her.

If you don't like that particular site, keep looking. THere are other sites and most people find that it doesn't take more than an hour or two to get it sorted out.


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12-20-2012 at 8:34 PM
erinruns
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Joined on 05-05-2010
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erinruns is not online. Last active: 05-21-2013, 8:41 PMBronze
The other poster is correct, you cannot pay cash and/or expect your nanny to worry about taxes.  That is your responsibility as her employer.  There are several online payroll sites that will calculate taxes for you, but you do have to get everything set up and pay them yourselves.
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