The Social Security Administration (SSA) has announced that the so called “nanny tax” threshold will increase by $200 in 2023. Cash paid by an employer for domestic services in the employer’s private home aren’t considered FICA wages in 2023 if the amount paid during the year is less than $2,600 (up from $2,400 in 2022). The SSA also reported that income earned by election workers won’t be subject to FICA tax in 2023 if the amount is less than $2,200 (up from $2,000 in 2022). For additional information: https://bit.ly/3VDslgq
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