Morning Momma's!
I am trying to do some tax math and I am stuck.
If we wanted our Nanny to take home 300.00 a week and we have access to 5000.00 dependent care account a year - what would our weekly costs be?
Does it make a difference for tax purposes if your children have special needs (oldest is on the spectrum and can not make it in traditional daycare settings due to over stimulation)
If Nanny is on the books, can we write off costs of employing her? If we did benefits or if we (attempted) to provide a car for her (ha ha ha we only have one working car for US!!) ?
DH looks to get getting a new job after months of unemployment and us well... lets no go into what happened.
Our spectrum little one is costing us a fortune -we have been blessed to have great health insurance that covers her treatments (ot/speech/psych/pt) but all of her appointments are an hour each way, the materials for her treatments (weighted vests, sensory fidgets, etc etc etc), and her caregiver (she can not do traditional daycare and is glued to the hip to her Nanny), and we are trying to see if we recover financially and if doing nanny tax may be one way to help us.
*side note*
DD is not severe enough to qualify for special education or "disability" status but has documentation from medical doctors saying she is autistic.
I am trying to do some tax math and I am stuck.
If we wanted our Nanny to take home 300.00 a week and we have access to 5000.00 dependent care account a year - what would our weekly costs be?
Does it make a difference for tax purposes if your children have special needs (oldest is on the spectrum and can not make it in traditional daycare settings due to over stimulation)
If Nanny is on the books, can we write off costs of employing her? If we did benefits or if we (attempted) to provide a car for her (ha ha ha we only have one working car for US!!) ?
DH looks to get getting a new job after months of unemployment and us well... lets no go into what happened.
Our spectrum little one is costing us a fortune -we have been blessed to have great health insurance that covers her treatments (ot/speech/psych/pt) but all of her appointments are an hour each way, the materials for her treatments (weighted vests, sensory fidgets, etc etc etc), and her caregiver (she can not do traditional daycare and is glued to the hip to her Nanny), and we are trying to see if we recover financially and if doing nanny tax may be one way to help us.
*side note*
DD is not severe enough to qualify for special education or "disability" status but has documentation from medical doctors saying she is autistic.
