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Get your taxes done using TurboTax
Thank you so much @GeorgeM777 GeorgeM777!
So now I know if I do not own business, I can still file W2 for my kids. And I can deduct the payment from my own tax, am I correct?
You mentioned their standard deduction is $1100 only but not $12550 if I claim them as dependent. Yes I will claim them as my dependent. Therefore if I pay them over $1100 I need to give them W2 and they have to file tax right? Because I heard that if I pay under $2000 to household employee (like nanny) I do not need to file W2.
In my case, I just paid them $550, is there anything I have to do this year in tax for them? Do I need to mention anything in my own tax as well? Thank you!
March 31, 2022
12:23 PM