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Nanny Tax
In the United States, the combination of payroll taxes withheld from a household employee and the employment taxes paid by their employer are commonly referred to as the nanny tax. Under US law, any family or individual that pays a household employee more than a certain dollar amount per year ($2,400 as of 2022) must withhold and pay Social Security and Medicare taxes, also known as FICA.Publication 926, Household Employer's Tax Guide, 2014 IRS.gov. The law mandates that all domestic workers, such as cooks, nannies, housekeepers and gardeners, are subject to the nanny tax.Martha C. White, [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territories, nine Minor Outlying Islands, and 326 Indian reservations. The United States is also in free association with three Pacific Island sovereign states: the Federated States of Micronesia, the Marshall Islands, and the Republic of Palau. It is the world's third-largest country by both land and total area. It shares land borders with Canada to its north and with Mexico to its south and has maritime borders with the Bahamas, Cuba, Russia, and other nations. With a population of over 333 million, it is the most populous country in the Americas and the third most populous in the world. The national capital of the United States is Washington, D.C. and its most populous city and principal financial center is New York City. Paleo-Americ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Celeste Watkins-Hayes
Celeste Watkins-Hayes is a public policy scholar and interim dean of the Gerald R. Ford School of Public Policy of the University of Michigan. Career Celeste Watkins-Hayes is the Interim Dean and the founding director of the Center for Racial Justice at the University of Michigan's Gerald R. Ford School of Public Policy. She holds a University Professorship in Diversity and Social Transformation, the Jean Fairfax Collegiate Professorship in the Ford School of Public Policy, and is a professor of Sociology at the University of Michigan. Prior to her arrival at the University of Michigan, Watkins-Hayes was a professor of Sociology and African American Studies at Northwestern University, a faculty fellow at Northwestern’s Institute for Policy Research, and an Associate Vice President for Research where she created the ASCEND faculty development initiative and oversaw several research centers and institutes. Watkins-Hayes is a former chair of the Department of African America ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Family Economics
Family economics applies economic concepts such as production, division of labor, distribution, and decision making to the family. It is used to explain outcomes unique to family—such as marriage, the decision to have children, fertility, polygamy, time devoted to domestic production, and dowry payments using economic analysis. The family, although recognized as fundamental from Adam Smith onward, received little systematic treatment in economics before the 1960s. Important exceptions are Thomas Robert Malthus' model of population growthThomas Robert Malthus, 1798. '' An Essay on the Principle of Population''. Full text on WikiSource. and Friedrich Engels'Friedrich Engels, 1981, The Origin of the Family, Private Property and State, International Publishers, pp 94-146 pioneering work on the structure of family, the latter being often mentioned in Marxist and feminist economics. Since the 1960s, family economics has developed within mainstream economics, propelled by the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Child Care
Child care, otherwise known as day care, is the care and supervision of a child or multiple children at a time, whose ages range from two weeks of age to 18 years. Although most parents spend a significant amount of time caring for their child(ren), child care typically refers to the care provided by caregivers that are not the child's parents. Child care is a broad topic that covers a wide spectrum of professionals, institutions, contexts, activities, and social and cultural conventions. Early child care is an equally important and often overlooked component of child's developments. Care can be provided to children by a variety of individuals and groups. Care facilitated by similar-aged children covers a variety of developmental and psychological effects in both caregivers and charge. This is due to their mental development being in a particular case of not being able to progress as it should be at their age. This care giving role may also be taken on by the child's extended f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Domestic Worker
A domestic worker or domestic servant is a person who works within the scope of a residence. The term "domestic service" applies to the equivalent occupational category. In traditional English contexts, such a person was said to be "in service". Domestic workers perform a variety of household services for an individual, from providing cleaning and household maintenance, or cooking, laundry and ironing, or childcare, care for children and elderly dependents, and other household errands. Some domestic workers live within their employer's household. In some cases, the contribution and skill of servants whose work encompassed complex management tasks in large households have been highly valued. However, for the most part, domestic work tends to be demanding and is commonly considered to be undervalued, despite often being necessary. Although legislation protecting domestic workers is in place in many countries, it is often not extensively enforced. In many jurisdictions, domestic w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bill Clinton
William Jefferson Clinton ( né Blythe III; born August 19, 1946) is an American politician who served as the 42nd president of the United States from 1993 to 2001. He previously served as governor of Arkansas from 1979 to 1981 and again from 1983 to 1992, and as attorney general of Arkansas from 1977 to 1979. A member of the Democratic Party, Clinton became known as a New Democrat, as many of his policies reflected a centrist "Third Way" political philosophy. He is the husband of Hillary Clinton, who was a senator from New York from 2001 to 2009, secretary of state from 2009 to 2013 and the Democratic nominee for president in the 2016 presidential election. Clinton was born and raised in Arkansas and attended Georgetown University. He received a Rhodes Scholarship to study at University College, Oxford and later graduated from Yale Law School. He met Hillary Rodham at Yale; they married in 1975. After graduating from law school, Clinton returned to Arkansas ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zoë Baird
Zoë Eliot Baird (born June 20, 1952) is an American lawyer and president of the Markle Foundation. She is known for her role in the Nannygate matter of 1993, which arose when she was nominated by President Bill Clinton as the first woman to be Attorney General of the United States, but she withdrew her nomination when it was discovered she had hired undocumented immigrants and failed to pay Social Security taxes for them. Since 1998, she has led the Markle Foundation.Testimony on Behalf of the Markle Task Force on National Security in the Information Age before the U.S. Senate Homeland Security and Governmental Affairs Committee [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nannygate
"Nannygate" is a popular term for the 1993 revelations that caused two of President Bill Clinton's choices for United States Attorney General to become derailed. In January 1993, Clinton's nomination of corporate lawyer Zoë Baird for the position came under attack after it became known that she and her husband had broken federal law by employing two Illegal immigration, people who had immigrated illegally from Peru as a nanny and chauffeur for their young child. They had also failed to pay Social Security (United States), Social Security taxes for the workers, the so-called "Nanny Tax", until shortly before the disclosures. While the Clinton administration thought the matter was relatively unimportant, the news elicited a firestorm of public opinion, most of it against Baird. Within eight days, her nomination lost political support in the U.S. Congress and was withdrawn. The following month, Clinton's choice of federal judge Kimba Wood for the job was leaked to the press, but ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Park Slope
Park Slope is a neighborhood in northwestern Brooklyn, New York City, within the area once known as South Brooklyn. Park Slope is roughly bounded by Prospect Park and Prospect Park West to the east, Fourth Avenue to the west, Flatbush Avenue to the north, and Prospect Expressway to the south. Generally, the section from Flatbush Avenue to Garfield Place (the "named streets") is considered the "North Slope", the section from 1st through 9th Streets is considered the "Center Slope", and south from 10th Street, the "South Slope". The neighborhood takes its name from its location on the western slope of neighboring Prospect Park. Fifth Avenue and Seventh Avenue are its primary commercial streets, while its east–west side streets are lined with brownstones and apartment buildings. Park Slope was settled by the Lenape before Europeans arrived in the 17th century. The area was mostly farms and woods until the early 19th century, when the land was subdivided into rectangular ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Flexible Spending Account
In the United States, a flexible spending account (FSA), also known as a flexible spending arrangement, is one of a number of tax-advantaged financial accounts, resulting in payroll tax savings. One significant disadvantage to using an FSA is that funds not used by the end of the plan year are forfeited to the employer, known as the "use it or lose it" rule. Under the terms of the Affordable Care Act however a plan may permit an employee to carry over up to $550 into the following year without losing the funds but this does not apply to all plans and some plans may have lower limits. The most common type of flexible spending account, the medical expense FSA (also medical FSA or health FSA), is similar to a health savings account (HSA) or a health reimbursement account (HRA). However, while HSAs and HRAs are almost exclusively used as components of a consumer-driven health care plan, medical FSAs are commonly offered with more traditional health plans as well. In addition, funds ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Child And Dependent Care Credit
The Household and Dependent Care Credit is a nonrefundable tax credit available to United States taxpayers. Taxpayers that care for a qualifying individual are eligible. The purpose of the credit is to allow the taxpayer (or their spouse, if married) to be gainfully employed. This credit is created by 26 U.S. Code (U.S.C) § 21, section 21 of the Internal Revenue Code (IRC). Background Federal courts have confirmed that expenses incurred for the care of a dependent, such as babysitting or daycare, while the taxpayer is at work, are not included in deductible business expenses and are not deductible under IRC section 162(a). As a result, single-earner households with qualifying individuals are favored over two-earner households with qualifying individuals, as the cost of daycare often outweighs the extra income made in two-earner households. IRC section 21 serves to lessen this imbalance by allowing a limited credit for certain expenses related to the care of a qualified depende ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Form W-4
Form W-4 (otherwise known as the "Employee's Withholding Allowance Certificate") is an Internal Revenue Service (IRS) tax form completed by an employee in the United States to indicate his or her tax situation ( exemptions, status, etc.) to the employer. The W-4 form tells the employer the correct amount of federal tax to withhold from an employee's paycheck. Motivation The W-4 is based on the idea of "allowances"; the more allowances claimed, the less money the employer withholds for tax purposes. The W-4 Form is usually not sent to the IRS; rather, the employer uses the form in order to calculate how much of an employee's salary is withheld. An employee may claim allowances for oneself, one's spouse, and any dependents, along with other miscellaneous reasons, such as being single with only one job. In the latter case, this creates an oddity in that the employee will have one more exemption on the W-4 than on the 1040 tax return. This is not a tax deduction in itself, but a proc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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