Nanny Tax Rules: Does It Apply To You?

Hiring a babysitter, or nanny, is a great way to have in-home care for your kids while you’re working, running errands, or doing whatever it is that you need to do sans-children. What you may not know is that the IRS sometimes considers these caregivers to be “household employees”, and therefore requires employment taxes (or …

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Want A Tax-Free Roth Conversion While Donating To Charity? Here’s How!

Before 2010, most people could not afford to convert an IRA into a Roth IRA. After 2010, the income restrictions that stopped them from doing so were scrapped. But one thing that hasn’t changed is that Roth IRA contributions typically trigger a taxable event. There are few ways of getting around this taxable event: IRA …

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