Accounting and Tax Services
Oct 19

Nanny tax threshold remains at $1,500 for 2006

On Social Security Online, Automatic Increases, Employment Coverage Thresholds (http://http://www.ssa.gov/OACT/COLA/CovThresh.html ), the Social Security Administration has announced that for 2007, cash remuneration paid by an employer for domestic service in the employer’s private home isn’t FICA wages if the amount paid during the year is less than $1,500 (same as for 2006).

About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read more →