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What President Trump’s Leaked Tax Return Tells About Nanny Taxes

Posted by HomeWork Solutions on Mar 22, 2017 1:10:02 PM

The recent release of Donald Trump’s 2005 tax return has been getting a lot of attention. Everyone is looking at the larger numbers, but we’ve noticed what’s not on the return. Look at line 62 on page 2 of the 1040. This is where the Schedule H information would be seen if President Trump had paid household employment taxes (the so called “nanny taxes”) with his personal tax return. This number would show the amount of tax he paid on the salaries of his household staff. With a household staff as large as his, one would expect that number to be substantial.

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Topics: babysitter nanny tax

Legal Must-Knows Before Hiring a Household Employee

Posted by HomeWork Solutions on Mar 21, 2017 4:57:00 PM

Considering hiring a caregiver, nanny, or other in-home employee? You may think it’s more convenient to pay them under the table, but in fact, this could be a very costly decision if you end up getting caught. There are some important legal must-knows before hiring a household employee and here, we will go over what those are.

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Topics: domestic employer legal responsibilities

My nanny doesn’t want me to pay taxes – should I care?

Posted by HomeWork Solutions on Mar 14, 2017 5:32:00 PM

You’ve found a nanny to care for your children and now comes the conversation of payment and taxes. If your nanny doesn’t want you to report her wages or pay taxes, how should you respond? It may be convenient to pay your nanny under the table, but not only is this illegal, it could be very costly if you end up getting caught. Failure to pay nanny taxes could result in hefty penalties and fines, often in the thousands of dollars range.

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Topics: nanny tax, household payroll tax

I never got around to paying my 2016 Nanny taxes – is it too late?

Posted by HomeWork Solutions on Mar 7, 2017 5:12:00 PM

Employers are faced with a variety of tasks and deadlines and sometimes staying on top of activities and dates can be difficult. Did you neglect to report and pay your nanny taxes in 2016? There’s good news: it’s not too late. Here are some important must-knows.

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Topics: nanny taxes, outsource nanny tax

Nannying with a Work At Home Parent (Part 2)

Posted by HomeWork Solutions on Feb 28, 2017 4:45:00 PM

Now that there have been boundaries and ground rules established, the nanny and the work at home parent will need to talk about how to handle conflict/discipline as well as work on a schedule/routine that can be followed on a daily basis.

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Topics: nanny job satisfaction

Nannying with a Work At Home Parent (Part 1)

Posted by HomeWork Solutions on Feb 21, 2017 4:45:00 PM

Many companies are now allowing their employees to work remotely, which means they can work from home rather than heading into the office for a traditional work day. Telework for a parent has many benefits, but it can also prove challenging if you’re looking for nanny services.

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Topics: nanny job satisfaction

Financial Professionals: Advising Clients with Private Hire Senior Care

Posted by HomeWork Solutions on Feb 14, 2017 8:23:00 AM

More and more families today are looking to hire in-home health care workers to assist with aging parents that are living with ailments or facing serious mental declines including dementia or Alzheimer’s disease. However, the cost of hiring in-home caregivers has been on the rise for several years, with the average cost of a home health aide being over $45,000 per year. (1)  Many families choose to privately hire, as an agency employed caregiver can cost $25 - 40 per hour while a privately hired caregiver can be $12 - $18 per hour. 

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Topics: independent elder care hire, senior home care

Tips for Hiring a Live In Nanny

Posted by HomeWork Solutions on Feb 7, 2017 7:50:00 AM

If you’ve recently started the process of searching for a new nanny, you know that finding the right nanny to nurture your kids is an incredibly big job. When it comes to looking for a live-in nanny, remember that you’re not just hiring a nanny to care for your kids, but you’re also looking for someone that can live well with you in a roommate style situation.

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Topics: live-in nanny

New Smart I-9 Form Jan 22 17

Posted by HomeWork Solutions on Jan 31, 2017 4:39:00 PM

For nearly two decades the Federal Government has required that anyone - including a household employer - hiring an individual to work in the United States verify that the individual is authorized to work in the U.S. It does not matter if the empoyee is a citizen, immigrant with a green card or an alien with an Employment Authorization Document (EAD). Everyone must be checked. Employers must maintain an I-9 form on file for every employee on their payroll. 

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Topics: employment authorization

Trump Nominees Tripped Up by the Nanny Tax — Don’t Make the Same Mistake

Posted by HomeWork Solutions on Jan 26, 2017 12:35:59 PM

We’ve seen it shatter the dreams of potential officeholders, time and time again — no, it’s not adultery, bribery, or breaking into the Democratic National Headquarters — we’re talking about the nanny tax.

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Topics: nanny tax, nanny taxes

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