Hi -
- My parents are Green Card holders as of last year,
- They will start in Jan 2024 as my household employees to look after and teach my children
- I am buying them health insurance from healthcare.gov on the basis of their employment with me
After reading and researching, I believe -
1) I have to file a Schedule H with my returns
2) I should issue a W2
Is that correct?
Also, I need to understand from experts here, what do my parents need to do when they file for their taxes. I read in this forum that they dont need to pay Social Security and Medicare taxes. I am confused about that. Please advise so that we can do this in a legal proper way.
Thanks a lot in advance!
