Top 10 Year-End Reminders for Household Employers

  1. To-Do List Put Tax Filing for your nanny on your to-do list for early January 2015 and set up an appointment with your accountant.
  2. W-2 Provide a W-2 to your nanny/employee by January 31, 2015.
  3. W-2 and W-3 Reporting File a copy of a W-2 and W-3 to the Social Security Administration by March 2, 2015.
  4. Schedule H Complete a Schedule H and attach it to your 1040 personal income tax return by April 15, 2015.
  5. Social Security Decide if paying Social Security (Employer and Employee portion) through estimated 1040ES payments (four times a year) or annually (with your personal income tax return).
  6. Medicare Decide if paying Medicare (Employer and Employee portion) through estimated 1040ES payments (four times a year) or annually (with your personal income tax return).
  7. Unemployment Insurance:
    • State Unemployment Insurance.Ensure quarterly State Unemployment Insurance payments are paid by April 3, 2015 (Quarter 4).
    • Federal Unemployment Insurance. Decide whether Federal Unemployment Insurance will be paid through estimated 1040ES payments (four times a year) or annually (with your personal income tax return).
  8. Income TaxesDiscuss with employee and agree whether income taxes will be withheld from an employee’s gross wages (if so you are responsible for remitting these taxes to the IRS and State) by April 15, 2015.
    • State Income Taxes. Know if state income taxes are paid to the tax agency on a Quarterly, Monthly or Annual basis.
    • Federal Income Taxes. Decide if Federal income taxes will be paid through estimated 1040ES payments (four times a year) or annually (with your personal income tax return).
  9. Annual Reconciliation Report.Find out if your state requires an annual reconciliation report to be completed and submitted each year (deadline varies by state).
  10. Help and Advice. Contact Jonita at GTM Certified Payroll and Tax at (888) 432-7972 x7224 or visit www.GTM.com for help with any of the tax filing process.

GTM Payroll and Nanny Tax Services

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First Class Care by Mom's Best Friend is Chicagoland's Premier Domestic Placement Agency. We specialize in placing Nannies, Housekeepers, Newborn Care Specialists, Babysitters, House Managers, Chefs and Personal Assistants.
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