What are the tax implications of hiring household help?
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Description
Abstract: When hiring household help, it’s important to stay on top of the relevant tax and reporting obligations to ensure things continue to run without a hitch. This article explains some of the basic tax-related responsibilities associated with household workers, such as the need to record employees’ names, addresses, Social Security numbers, and cash and noncash wages paid to them and the obligation to retain this information for at least four years after the due date of the tax return.
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