I am considering a private hire as a companion for my mother. What are my tax obligations?
You are responsible for making Social Security (FICA) and Medicare tax payments. This includes withholding the employee’s share, as well as matching that amount, as the employer. You as the employer will also pay the Federal and state unemployment tax. As the employer, you and the employee need to discuss any arrangements regarding state and Federal income tax withholding. It is always a good idea to consult with an accountant in these situations.
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- I am considering a private hire as a companion for my mother. What are my tax obligations?
