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Alternatives to the Nanny Year End Bonus

Posted by HomeWork Solutions on Nov 13, 2018 4:02:00 PM

Nanny wages have been on the steady increase for the last decade and from 2003 to 2017, the average nanny wage has increased 20%. Paying your nanny a fair wage is part of what keeps her happy and loyal to your family in her role. After all, she works hard for your family all year long and it is important to recognize her for a job well done. One way to acknowledge her efforts, above and beyond her wage, is through a end of year bonus. A typical end of year bonus is one or two weeks pay. For many families, paying a nanny additional cash for a bonus could be outside of the budget, particularly if the nanny is well compensated already. If that’s the case, there are several other great alternatives that could help recognize your nanny’s work for the year.

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Topics: nanny

Holiday Planning and Divorce

Posted by HomeWork Solutions on Nov 6, 2018 3:50:00 PM

Divorce can be difficult for everyone involved, but it can be especially hard for children to understand. Even after divorce papers are signed and everything is completed legally, you will still need to figure out how to co-parent and establish a relationship that supports your children through this new life transition. When the holidays come, it can be an especially emotional time for children because the traditions that they once had will likely change. Here are some helpful tips on co-parenting during the holidays.

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Topics: nanny, agency

How to Reduce the Tax Risk of Using Independent Contractors

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

Classifying a worker as an independent contractor frees a business or family from payroll tax liability and allows it to forgo providing overtime pay, unemployment compensation and other employee benefits. It also frees the business from responsibility for withholding income taxes and the worker’s share of payroll taxes – household employers can legally omit withholding even for an employee.

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Topics: CPA, agency, nanny, senior

Tips for Raising Twins and Multiples

Posted by HWS Guest on Oct 30, 2018 3:50:00 PM

This post is authored by our special guest, Karen Holland.  Karen is a Newborn Care Specialist, Postpartum Doula, and New Parent Educator, a Red Cross CPR/First Aid/AED Instructor, and holds her SNNEB from Scotland, where she was born and raised. With more than 30 years experience working with families and newborns, Karen provides exceptional, non-judgmental Postpartum Doula, Newborn Care Specialist, and New Parent Educator services to the Greater Washington, D.C., area through her firm, All Baby Concierge. You are invited to follow Karen on Facebook

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Topics: nanny

Background Screening a Nanny v. Reference Checking

Posted by HomeWork Solutions on Oct 23, 2018 3:50:00 PM

Background screenings and reference checks are important parts of the hiring process. Which one do you need? As experts in the nanny field, we recommend that you do both. Here are the differences between the two and why it’s critical to get both done before you hire anyone to work inside your home.

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Topics: nanny, agency, CPA

Elections and Civics: The Role of the Nanny

Posted by HomeWork Solutions on Oct 16, 2018 3:50:00 PM

Nannies spend a lot of time with the kids each day. That often means there is a lot of dialogue and sometimes many hours of answering questions or explaining things. When it comes to major life changes or happenings around the world, kids are usually observing more, even though we may not think they’re paying that much attention. Things going around them can affect them, so it’s important to promote positive communication.

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Topics: nanny, agency

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.

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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.

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Topics: CPA, agency, nanny

What is a nanny and what does she do?

Posted by HomeWork Solutions on Oct 2, 2018 3:50:00 PM

Wondering if a nanny is the best choice for your family? Hiring a nanny can be a great thing for your family and can help alleviate some of the responsibilities and stress you have as a working parent. A good nanny will have your children’s best interest in mind and taking good care of them will be their primary concern. Here is some important information on what a nanny does as well as tips on how you can foster a great nanny/parent relationship.

Nannies will take care of your children while you’re away. They will play with your kids, feed them, help them with toileting, and will comfort them when they need it. The bottom line: a nanny will step in to provide similar things that you would provide if you were there. Nannies may also do housework like wash dishes, do the laundry, straighten the children’s rooms or play areas, and more. A nanny’s specific duties will vary from family to family and the job description will need to be something that you discuss in detail with your nanny before you hire her.

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Topics: nanny, agency

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.

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Topics: CPA, agency, nanny

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