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Family Caregivers Need Help Too!

Posted by HomeWork Solutions on Aug 21, 2018 3:50:00 PM

If you’re taking care of an elderly parent, you know how many things there are to juggle at once. Whether it’s cooking meals every day, paying income taxes, or running to doctor appointments, there are usually endless numbers of tasks that will accumulate from day to day and week to week. It is important to take care of yourself in the midst of taking care of your loved one. Family caregivers need help too, so here are some things you can outsource to simplify your life.

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Topics: agency, senior

Document to Improve: Mapping Workflows to Streamline Accounting Processes

Posted by TechnologyAdvice on Aug 16, 2018 10:00:00 AM

This is a community post provided by TechnologyAdvice

Unproductive procedures and practices slow us all down in the workplace. You’re not alone. Office demands in this day and age are higher than ever, and only continue to escalate. We often move quickly, forsaking quality for timeliness. Unfortunately, out-of-date office technology and unnecessarily arduous procedures are often the causes of costly inaccuracies and overly-manual processes. Rework your usual methods and meet quality standards with a few simple solutions to workflow problems.

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Topics: CPA

Back-to-School - Outsource Preparation to your Nanny

Posted by HomeWork Solutions on Aug 14, 2018 3:50:00 PM

The summer has been packed with fun activities, but before you know it, you’ll have to start thinking about heading back to school and all that comes with being prepared for that. If you’re busy and you’re looking for ways to get your nanny more involved with the back to school preparation, here are some great ways that you can have her help.

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Topics: nanny, agency

Factor in State and Local Taxes when Deciding Where to Live in Retirement

Posted by HomeWork Solutions on Aug 9, 2018 10:00:00 AM

Many Americans relocate to another state when they retire. If you’re thinking about such a move, state and local taxes should factor into your decision.

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Topics: CPA

Qualified Small Employer Health Reimbursement Arrangements (QSEHRA) vs. SHOP Plans. Which is right for the Household Employer?

Posted by HomeWork Solutions on Aug 7, 2018 3:50:00 PM

Prior to the enactment of Obamacare ( Patient Protection and Affordable Care Act), household employers gave little thought to cost and regulation when it came to subsidizing a household employee's health insurance costs. The employee and employer simply negotiated a tax free reimbursement contribution, the employee purchased insurance, and the entire transaction took place under the government radar, perfectly legally.

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Topics: nanny, agency, senior, CPA

What Businesses Need to Know About the Tax Treatment of Bitcoin and Other Virtual Currencies

Posted by HomeWork Solutions on Aug 2, 2018 10:00:00 AM

While this is not related to employment at all, we still wanted to include this post as it is an interesting topic to consider. Over the last several years, virtual currency has become increasingly popular. Bitcoin is the most widely recognized form of virtual currency, also commonly referred to as digital, electronic or crypto currency.

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Topics: CPA

Nanny Tax Compliance on the IRS Radar

Posted by HomeWork Solutions on Jul 31, 2018 3:52:00 PM

Households that employ domestic help, such as nannies or senior caregivers, are required to file and remit federal and state employment taxes for their employee, but surprisingly, many do not. Failure to pay the so-called “Nanny Tax” results  in a tax gap that totals billions of dollars. In fact, unpaid nanny taxes are estimated to be $3.3 billion to $5.7 billion per year, according to a new study discussed at the June 2018 presentation at the IRS/Tax Policy Center Joint Research Conference on Tax Administration. It is estimated that only 5.3% of the estimated 3.6 million household employers complied with this requirement in 2015. (1)

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Topics: nanny, agency, senior, CPA

IRS Audit Techniques Guides Provide Clues to What May Come up if Your Business is Audited

Posted by HomeWork Solutions on Jul 26, 2018 10:00:00 AM

IRS examiners use Audit Techniques Guides (ATGs) to prepare for audits — and so can small business owners. Many ATGs target specific industries, such as construction. Others address issues that frequently arise in audits, such as executive compensation and fringe benefits. These publications can provide valuable insights into issues that might surface if your business is audited.

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Topics: CPA

The nanny we interviewed wants guaranteed hours. What is this?

Posted by HomeWork Solutions on Jul 24, 2018 3:50:00 PM

Hiring a nanny is an important decision and there are likely many questions going through your mind. Setting hours and understanding how much to pay your nanny is an important part of the process, and there are various terms that are used that you may be confused about. Salary and guaranteed hours are terms that are often used interchangeably, but in fact, they are completely different. If you’ve wondered what guaranteed hours are, we’ll break it down here for you.

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Topics: nanny, agency, senior, CPA

Can You Deduct Business Travel When It’s Combined with a Vacation?

Posted by HomeWork Solutions on Jul 19, 2018 10:00:00 AM

At this time of year, a summer vacation is on many people’s minds. If you travel for business, combining a business trip with a vacation to offset some of the cost with a tax deduction can sound appealing. But tread carefully, or you might not be eligible for the deduction you’re expecting.

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Topics: agency, CPA

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