April 15 is the tax deadline most Americans think of because it’s the final day to file personal income tax returns. However, for the majority of household employers, the month of April is also the when household employment tax returns (a.k.a. the “nanny taxes”) must be filed.

There are 2 deadlines approaching. The first is the federal 1040-ES deadline of April 15^th.  Household employers who paid wages to an employee during the first quarter of 2013 (January, February and March), should file Form 1040-ES and remit all of the federal taxes withheld from the employee’s pay (Social Security, Medicare and any federal income taxes) along with the associated federal employer taxes (Social Security, Medicare and Federal Unemployment).

The second deadline is with your state. In most states, household employers are required to file employment tax returns for the first quarter of 2013 by the end of April. The state returns include remittance of the state taxes withheld from the employee’s pay along with all of the state employer taxes.

The employment tax process funds important benefits and protections for the employee, including Social Security income, health insurance coverage via Medicare and unemployment benefits.

For Breedlove clients, no worries. We handle all these quarterly deadlines for you as part of our no-work, no-worry promise. If you’re not a Breedlove client and would like to learn more about the upcoming tax requirements, feel free to call and speak with one of our household payroll & tax experts. We’re here to help!

We got a call from a prospective client yesterday that warmed all of our hearts.  He came to us after hearing good reviews of our service from several friends.  He liked everything he heard during our free phone consultation so he decided to join the service.  We're thrilled to serve him.  But that's not the best part.

Before he hung up, he said he was "giving the gift of Breedlove" to his wife...she has been handling all of their "nanny tax" obligations (payroll, quarterly state employment tax returns, Form W-2, Schedule H, federal 1040-ES payments, etc.) for several years and he wants to surprise her with our service as a Christmas present.  He doesn't want her to have any more paperwork, government correspondence or deadlines to worry about.

Note: The IRS estimates the average household employer should budget 50-55 hours per year on payroll & tax compliance...he's excited to give her a lot more precious free time.

We're all so flattered to be considered present-worthy!  It made our day...heck, our whole week.  So, we made a special hand-made card that he can put under the tree. Can't wait to hear how she likes it! 

Happy holidays from all of us at Breedlove!

Reminder: It's less than 3 weeks until the tax deadline.  For household employers, you'll include Schedule H with your federal income tax return.  Federal taxes that you withheld from your employee (social security, medicare, federal income tax) along with federal employer taxes (social security, medicare, unemployment) will be accounted for on Schedule H.  If you made 1040-ES payments during the year, those payments will offset the liability shown on your Schedule H.  Any balance due or refund will be included with the rest of your personal tax situation.