Hiring household help is not just for the wealthiest among us. Instead, it’s a fact of life for millions who are forced to hire nannies to watch their children, caregivers to look after elderly parents or even housekeepers to keep a house in order during a family’s busy life. But paying the household employees and keeping track of payroll receipts, tax forms, insurance coverage and more can be a cumbersome and confusing process. That’s where GTM Payroll Services steps in to help.
Reducing Your Chance of an IRS Audit
Is the mere thought of Internal Revenue Service scrutiny enough to give you nightmares? For many Americans, it is. In a recent survey of more than 2,500 taxpayers, TaxAudit, the nation’s largest audit defense service, found that 47 percent feel anxious when they receive correspondence from the IRS. And while 65 percent are confident that their tax returns are error-free, 29 percent still worry the IRS will audit them.