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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

Did you know some cities have minimum wages higher than state and Federal laws?

Posted by HomeWork Solutions on Jul 17, 2018 3:50:00 PM

Minimum wage and overtime laws are contained in a complex assortment of Federal, state and local laws and ordinances.

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Topics: nanny, agency, senior, CPA

Do You Need to Adjust Your Withholding?

Posted by HomeWork Solutions on Jul 12, 2018 10:00:00 AM

If you received a large refund after filing your 2017 income tax return, you’re probably enjoying the influx of cash. You may have had a hefty bill as well. Ideally your tax return should have you just about even with the government, no large refund and no big bill. It’s almost impossible to come out square but being only a couple hundred dollars off one way or another is pretty good. If you aren’t close you might want to consider adjusting your withholding. That process is a little more complicated for 2018.

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Topics: nanny, agency, senior, CPA

Do Your Employees a Favor and Remind Them About Their W-4s

Posted by HomeWork Solutions on Jun 28, 2018 10:00:00 AM

 

Employees don’t always fill out their W-4 forms accurately. For example, some may wrongly write “exempt” on the withholding portion of the form to ensure that no federal or state tax is withheld. Others may be inadvertently under withholding because of recent tax law changes.

Although the employees themselves are liable for improperly completing their W-4s, you can do them a favor by reminding them of possible mistakes. After all, the IRS may eventually come calling on your organization if someone appears to be under withholding.

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Topics: nanny, agency, senior, CPA

Household Employers: Paid Family Leave and Paid Sick Leave Laws

Posted by HomeWork Solutions on Jun 26, 2018 3:59:00 PM

The Federal government enacted the Family and Medical Leave Act (FMLA) a quarter century ago to make it easier for workers to take job-protected leave to care for their newborns and other family members with serious health conditions. While this was landmark legislation in the employment law arena, critics have consistently pointed out that the law only applies to employers with 50 or more employees, and that the leave is unpaid. 

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Topics: nanny, agency, senior, CPA

Should you File Form SS-8 to Ask the IRS to Determine a Worker’s Status?

Posted by HomeWork Solutions on Jun 21, 2018 10:00:00 AM

Classifying workers as independent contractors — rather than employees — can save businesses money and provide other benefits. But the IRS is on the lookout for businesses that do this improperly to avoid taxes and employee benefit obligations. This is a HUGE mistake made by household employers. It is very difficult for a nanny (for instance) to be considered an independent contractor.

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Topics: agency, CPA

A Review of Significant TCJA Provisions Affecting Small Businesses

Posted by HomeWork Solutions on Jun 14, 2018 10:00:00 AM

Now that small businesses and their owners have filed their 2017 income tax returns (or filed for an extension), it’s a good time to review some of the provisions of the Tax Cuts and Jobs Act (TCJA) that may significantly impact their taxes for 2018 and beyond. Generally, the changes apply to tax years beginning after December 31, 2017, and are permanent, unless otherwise noted.

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Topics: agency, CPA

Putting Your Child on Your Business’s Payroll for the Summer May Make More Tax Sense than Ever

Posted by HomeWork Solutions on Jun 7, 2018 10:00:00 AM

If you own a business and have a child in high school or college, hiring him or her for the summer can provide a multitude of benefits, including tax savings. And hiring your child may make more sense than ever due to changes under the Tax Cuts and Jobs Act (TCJA).

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Topics: agency, CPA

Our Aging Population Continues to Drive Need for Affordable In-Home Care

Posted by HomeWork Solutions on Jun 5, 2018 3:50:00 PM

It's no secret that Americans are living longer, experiencing slower physical and mental declines in old age, and have a strong preference - both emotionally and economically - to age-in-place. The inevitable physical and mental declines, however, are key triggers for the need for in home support services  so they can make that happen.

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Topics: agency, senior, CPA

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