Enrolled Agent Exam [Part 1] 72, Household Employment Taxes

Failed to add items

Sorry, we are unable to add the item because your shopping cart is already at capacity.

Add to basket failed.

Please try again later

Add to wishlist failed.

Please try again later

Remove from wishlist failed.

Please try again later

Adding to library failed

Please try again

Follow podcast failed

Unfollow podcast failed

Enrolled Agent Exam [Part 1] 72, Household Employment Taxes

Listen for free

View show details

About this listen

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: • The critical difference between the $2,700 annual FICA threshold and the $1,000 quarterly FUTA threshold for household employees. • That all household employment taxes (FICA and FUTA) are reported on Schedule H, which is filed with the employer's Form 1040. • Why a household employee must receive a Form W-2 and never a Form 1099-NEC, a common point of confusion on the exam. • That withholding federal income tax is optional and requires an agreement between the employer and employee via Form W-4. • How to apply the control test to determine if a worker is an employee, triggering Schedule H, or an independent contractor. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep

No reviews yet