Are nanny tax and insurance expenses deductable?

Question

As a household employer, am I able to deduct the nanny taxes and the portion of the health insurance premiums that I pay for as business expenses?

Answer 1

You can deduct child care expenses on your personal tax return, form 2441. It is not a business expense.














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Answer 2

All of these expenses may be deductible as child care expenses. If you can afford a nanny you should also be able to afford a tax professional who will assist you. There are rules about what portion of the cost of a domestic that can be deducted as child care expenses and it would be advantageous to discuss that with a knowledgeable person.

Answer 3

No because you have no "business" producing income at home. These expenses do qualify for child care credit as mentioned above. If employee does any nursing for old taxpayer a portion could be taken as medical expenses.

Answer 4

I know that certain health insurance premiums are deductable but what the hell is a nanny tax?!!!

Answer 5

All taxes are tax deductible. If you pay income tax, sales tax, corporate tax, it's all deductible. You should be getting a check within the next ten business days.

Answer 6

See your accountant. I suspect most if not all of these are income deductable from your personal income. As for business expences I doubt that is allowed.

But as I said see your accountant. He/she will know the answers you need.