Nanny Tax Tip for Household Employers from Breedlove & Associates:
Maximize your nanny’s take home pay and minimize your employer tax.
- Health Insurance premiums from a state-licensed insurance provider;
- Up to $5,250 per year towards tuition & books for an accredited college or university.
- Up to $125 per month toward public transportation to and from the worksite;
- Up to $240 per month towards parking (at the jobsite and/or at the public transportation facility).
Strategically-structured payroll can save you and your employee a considerable amount of money each year. To learn more about non-taxable compensation and how to take advantage of it, contact Breedlove & Associates.
Cambridge Nanny Group
4707 N Broadway
Chicago, IL 60640