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Deducting Home Office Expenses: Changes in the New Tax Law

Posted by HomeWork Solutions on Mar 8, 2018 10:00:00 AM

Many of our partners take advantage of working from their homes. It makes a lot of sense for convenience and cost. But just because you have a home office space doesn’t mean you can deduct expenses associated with it. For 2018, even fewer taxpayers will be eligible for a home office deduction.

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Topics: agency, CPA

6 Reasons to Choose HomeWork Solutions for Your Nanny Payroll

Posted by HomeWork Solutions on Mar 6, 2018 3:56:00 PM
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Topics: filing taxes, nanny, nanny tax, Senior Caregiver Payroll, agency, senior, CPA

Two Tax Credits for Small Businesses That May reduce your Tax Bill

Posted by HomeWork Solutions on Mar 1, 2018 10:00:00 AM


Tax credits reduce tax liability dollar-for-dollar, potentially making them more valuable than deductions, which reduce only the amount of income subject to tax. Maximizing available credits is especially important now that the Tax Cuts and Jobs Act has reduced or eliminated some tax breaks for businesses. Two still-available tax credits are especially for small businesses that provide certain employee benefits.

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Topics: agency, CPA

Case Study: Pro Athlete Advised to 1099 His Nanny

Posted by HomeWork Solutions on Feb 27, 2018 3:54:00 PM

Our client, John M. came to us after working with a nanny that he thought could work as an independent contractor.

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Topics: nanny, agency, senior, CPA

No More Free Lunch, Deduction Cuts in the New Tax Law

Posted by HomeWork Solutions on Feb 22, 2018 10:00:00 AM

business tax deductions.jpg

Along with tax rate reductions and a new deduction for pass-through qualified business income, the new tax law also brings reduction or elimination to some popular business deductions. Two expense areas where the Tax Cuts and Jobs Act (TCJA) changes the rules — and not to businesses’ benefit — are meals/entertainment and transportation. In effect, the reduced tax benefits will mean these expenses are more costly to a business’s bottom line.

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Topics: agency, CPA

Household Employees and Paid Sick Leave Laws

Posted by HomeWork Solutions on Feb 20, 2018 3:11:00 PM

At the Federal level, private employers are not required to offer sick leave - whether paid or unpaid - to their employees. Most household employers voluntarily offer some paid time off to their nanny, senior caregiver or housekeeper in their work agreement. 

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Topics: senior care, nanny, agency, CPA

7 Common Mistakes of California Household Employers

Posted by HomeWork Solutions on Feb 13, 2018 3:00:00 PM

California has some of the most complex household employment labor laws in the country! So complicated in fact that the California Household Employers Guide, published by the state, runs 70 pages of explanation, and that is just for the taxation component!

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Topics: nanny, agency, senior, CPA

2018 Payroll Tax Withholding Tables are Changing

Posted by HomeWork Solutions on Feb 8, 2018 10:00:00 AM

For employers, managing payroll smoothly and properly is a delicate, critical matter. There may be no quicker way to turn a happy employee into a disgruntled one than by mishandling his or her paycheck (exactly why many household employers use us).

This year, employers have an additional challenge with which to contend. When Congress passed, and the President signed into law, the Tax Cuts and Jobs Act (TCJA) late last year, it meant the IRS withholding tables would have to be updated. And now they have been.

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Topics: nanny, agency, senior, CPA

Unexpected Benefits to Hiring a Mature Nanny

Posted by HomeWork Solutions on Feb 6, 2018 3:00:00 PM

The decision to hire a nanny requires plenty of interviewing and research. There are many wonderful nannies out there that are looking for the right family to work with and it’s exciting to think of the many possibilities that you have in finding the right one that fits just perfectly with your children. Nannies are not babysitters, but they are instead nurturing professionals that are committed to helping influence your children’s growth and overall development. Nannies that are young and are looking to gain experience often have energy and unique ideas to bring to a family, but there is also something to be said about hiring a seasoned nanny that has years of experience. Here are some reason why you should consider hiring an experienced nanny.

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Topics: nanny, agency

How long should you retain payroll records?

Posted by HomeWork Solutions on Feb 1, 2018 10:00:00 AM

Employers must exert a certain amount of time and resources to properly retain their income tax records. But these aren’t the only documents you need to maintain. Retention of your organization’s payroll records is also important. This goes for both corporate and household employment.

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Topics: nanny, agency, senior, CPA

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