Taxes on in-house Nannies are so annoying.
😂 LOL
In Florida at least you are obligated to pay them as W2s and not an independent contractors which means essentially you have to start a inexorably unprofitable business and pay all employer-related taxes resulting in less wages to pay to the nanny.
hmm I think I get it now 🤦♂️ I'm at a point where I need to either stop working, or have my wife start a very unprofitable business
It's dogshit. On the otherhand, if you send your kid to their house, you can pay as independent contractor but by virtue of them working in your home they have to be paid as an employee. Total nonsense. When we had a nanny, I would much rather have paid her a lot more than pay all kinds of extra taxes.