The Most Common Mistakes Made When Filing Nanny Tax
When filing your nanny tax, it is important to avoid common mistakes. Naturally, they happen, and that is why Tax4Nanny is here to help you. Our goal is to file your nanny taxes mistake free.
Math isn’t easy. When filing your nanny taxes, always check your math. A simple mistake can make a big difference between whether you receive a nice return or you owe a large sum of money. Double check everything and then check it again!
Miscalculating what is taxable
It can be tough to determine what is taxable and what is not. Nanny taxes are the same. You have to know the specific laws for your region in order to know if there are any specific tax breaks you can claim. Like bad math, not knowing what is taxable can result in you messing up the entirety of your nanny tax.
Check your numbers and names
This one may sound silly, but a lot of people filing for nanny taxes will accidently misspell a name, miss a single number for a SIN, or direct deposit information. This small mistake is easily avoidable when filing your nanny taxes. Like bad math, check your names and numbers.
The tax deadline will quickly creep up on you. Always ensure that you give yourself enough time to properly complete your nanny tax. Providing yourself with a suitable amount of time will increase the overall quality of your tax return.
Tax4Nanny is a dedicated nanny tax service. Our staff is ready to help you with all of your caregiver tax needs. We are located in Toronto, Ontario, but we serve the entire GTA and offer our services to individuals throughout Canada. If you have any questions about our tax service, please feel free to contact us.