Household Employee, Schedule H - Turbo Tax Recommends 21.5% Tax Payment For Nanny?

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gizmo
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Joined: Mon Mar 13, 2017 3:46 pm

Household Employee, Schedule H - Turbo Tax Recommends 21.5% Tax Payment For Nanny?

Post by gizmo » Sun Feb 18, 2018 6:18 pm

I am starting to sort through a household employee debacle as detailed viewtopic.php?f=2&t=241417&p=3778745#p3778745.

Household employee received $4,250 in wages over the course of 2017; I expected to assume approximately $500 in tax liability over the year. I have now completed Schedule H and was shocked to find an estimate of $916 in tax liability.

Does this seem incredibly high?

This $400 discrepancy has me inclined to save all relevant forms to a flash drive and toss it at the neighborhood CPA as I drive through town - admittedly not the most Bogleish of thoughts.

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