<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=1903855569843826&amp;ev=PageView&amp;noscript=1">

Why Paying Your Household Employee Under The Table Is a Bad Idea

Posted by HomeWork Solutions on Oct 9, 2018 3:50:00 PM

You’ve done your research and interviewed lots of potential candidates for your household employee position. Whether it’s a nanny, an in-home senior caregiver, or someone else that will work regularly in your home with you, making the decision to hire the right person can feel like a lot of pressure. And more than likely, you have questions on what your responsibilities are for paying taxes on your household employee.

Read More

Topics: nanny, senior, CPA, agency

How to Avoid Getting Hit with Payroll Tax Penalties

Posted by HomeWork Solutions on Oct 4, 2018 10:00:00 AM

For small businesses and household employers, managing payroll can be one of the most arduous tasks. Adding to the burden earlier this year was adjusting income tax withholding based on the new tables issued by the IRS. (Those tables account for changes under the Tax Cuts and Jobs Act.) But it’s crucial not only to withhold the appropriate taxes — including both income tax and employment taxes — but also to remit them on time to the federal government.

Read More

Topics: CPA, agency, nanny

Home Green Home: Save Tax by Saving Energy

Posted by HomeWork Solutions on Sep 27, 2018 10:00:00 AM

“Going green” at home — whether it’s your principal residence or a second home — can reduce your tax bill in addition to your energy bill, all while helping the environment, too. The catch is that, to reap all three benefits, you need to buy and install certain types of renewable energy equipment in the home.

Read More

Topics: CPA, agency, nanny

Is Outsourcing Household Payroll Right for Me?

Posted by HomeWork Solutions on Sep 25, 2018 3:50:00 PM

You live a busy life and sometimes, you feel overwhelmed with the demands and tasks that continually pile up. If you’ve hired a household employee such as a nanny or senior caregiver and you simply don’t have the time to manage the payroll and make sure that all the taxes are being withheld properly, it may be time to consider outsourcing. There are many benefits to outsourcing. Here are some of the main reasons to consider delegating payroll to the professionals.

Read More

Topics: nanny, senior, agency, CPA

Choosing the Best Business Entity Structure Post-TCJA

Posted by HomeWork Solutions on Sep 20, 2018 10:00:00 AM

For tax years beginning in 2018 and beyond, the Tax Cuts and Jobs Act (TCJA) created a flat 21% federal income tax rate for C corporations. Under prior law, C corporations were taxed at rates as high as 35%. The TCJA also reduced individual income tax rates, which apply to sole proprietorships and pass-through entities, including partnerships, S corporations, and, typically, limited liability companies (LLCs). The top rate, however, dropped only slightly, from 39.6% to 37%.

Read More

Topics: CPA, agency

Consider the Tax Advantages of Investing in Qualified Small Business Stock

Posted by HomeWork Solutions on Sep 13, 2018 10:00:00 AM

While the Tax Cuts and Jobs Act (TCJA) reduced most ordinary-income tax rates for individuals, it didn’t change long-term capital gains rates. They remain at 0%, 15% and 20%.

The 0% rate generally applies to taxpayers in the bottom two ordinary-income tax brackets (now 10% and 12%), but you no longer have to be in the top ordinary-income tax bracket (now 37%) to be subject to the top long-term capital gains rate of 20%. Many taxpayers in the 35% tax bracket also will be subject to the 20% rate.

Read More

Topics: CPA

New York 13 Hour Rule Still in Judicial Limbo

Posted by HomeWork Solutions on Sep 12, 2018 1:47:37 PM

Imagine the frustration you would feel after working a stressful 24 hours straight, only to realize that you’re only being paid for 13 hours of that time. Home health aides in the state of New York have said ‘enough is enough’ and in May 2018, several of them as well as two nonprofit advocacy groups, sued the state’s Labor Department and the commissioner Roberta Reardon with the intention of throwing out the state’s emergency regulations that allow for this to happen. Their end goal: to be paid for every hour of a 24-hour work day.

Read More

Topics: senior, CPA, agency

Improving a Struggling Employee’s Performance is a Two-Way Street

Posted by HomeWork Solutions on Sep 6, 2018 10:00:00 AM

It’s easy to get frustrated when an employee is failing to produce the volume or quality of work you expect. A business owner, department manager, or even household employer may give in to the temptation to play the blame game, pointing a finger at the struggling worker and only exacerbating the situation.

Read More

Topics: CPA, agency, nanny

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.

Read More

Topics: CPA

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.

Read More

Topics: CPA

Real Human Beings Are Standing By

Complete the form below and one of our payroll experts will reach out to you ASAP. You may also call 1-877-899-3004 to speak with our team immediately.


Subscribe to Email Updates

Recent Posts

Posts by Topic

see all