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Nannying explained...

Posted by HomeWork Solutions on May 13, 2018 9:46:00 AM


That weird profession where you're required to love a child beyond comprehension, and yet keep them at arms length and not get "too attached" to remain professional.

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Topics: nanny

Why Employers Need to Practice Change Management

Posted by HomeWork Solutions on May 10, 2018 10:00:00 AM

When an organization changes — whether it’s something as drastic as a merger or as seemingly innocuous as a new software system — employees may feel threatened. People tend to desire stability and order as opposed to disruption and uncertainty. This is equally as true in household employment as it is in a corporate setting. Think your nanny isn’t nervous about your move to a new home or addition of another child?

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Topics: nanny, agency, CPA

Happy Mother’s Day from your Nanny Tax Experts!

Posted by HomeWork Solutions on May 8, 2018 4:00:00 PM

We live over whelmed by the Disney-style images of an idealized life, where love stories end when the couple gets married and they “live happily ever after”.  Have you ever questioned what “ever after” really means?  Let me tell you … it means we buy a house, pay bills, and have arguments over the remote control.  Eventually, we become parents, and time seems to start running against us!  

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Topics: nanny, agency

Guidelines for Tax Document Retention: Individuals

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

What 2017 tax records can you toss once you’ve filed your 2017 return? The answer is simple: none. You need to hold on to all of your 2017 tax records for now. But it’s the perfect time to go through old tax records and see what you can discard.

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Topics: nanny, agency, senior

All Types of Employers benefit from a formal onboarding process

Posted by HomeWork Solutions on May 1, 2018 3:50:00 PM


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Topics: nanny, agency, senior, CPA

Do I owe nanny taxes for our summer nanny?

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

Summer will be here before you know it and that means that kids are out of school and ready for some relaxation and fun. If you continue to work full time during the summer, you must find reliable childcare for your kids during the duration of the summer. Finding a summer nanny could be something that you’ve never had to do before. It’s important to note that hiring a nanny for the summer is different than paying a babysitter for services occasionally. Hiring a summer nanny means you’re officially a household employer and with that, comes some rules that you’ll have to adhere to.

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Topics: nanny, agency

Best FREE Time Clock Apps for Nannies and Caregivers

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

If you have a new nanny or senior caregiver, it’s important that you have a reliable way to keep track of their hours worked. Accurate, contemporaneous time tracking will protect you as an employer from unpaid wage and overtime complaints and it will also ensure that the nanny or caregiver is paid for all their hours. Here are some apps that can help.

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Topics: nanny, agency, senior, CPA

2018 Form W-4: A Walk through

Posted by HomeWork Solutions on Apr 11, 2018 10:00:00 AM

Disclaimer: HomeWork Solutions employees are experts in Employment Taxes, not personal income taxes. That said, we see these forms every day. If you have specific questions please see your personal tax accountant.

First off, here is a link to the IRS maintained version of the Form W-4.

This new version has substantial changes. Even some elements that haven’t changed have been rearranged. Starting from the top we do see some familiar things (provided you’ve read the “fine print” of the form before). The general instructions haven’t changed much but there are some clarifications about the adjusted child care tax credit as well as credits for other dependents. You’ll notice then that the bottom third of the first page is now the Employee Withholding Allowance Certificate with no allowance worksheet above it. The section is still the same with name, address, social security number, etc. The most important things here are filing status (box 3) and number of allowances (box 5), the same as it has always been. The major difference is that getting to your number of allowances is considerably more difficult.

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Topics: nanny, agency, senior, CPA

My Nanny claims an Exempt Status on her W-4.  Is that right?

Posted by HomeWork Solutions on Apr 10, 2018 3:50:00 PM

All employees, including household employees, use the Form W-4 to direct the employer on how to calculate Federal income tax deductions from their paycheck. The responsibility for the accuracy of this form rests with the nanny or other employee.

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Topics: nanny, agency, CPA

What’s Your Mileage Deduction and how is it Changing in 2018?

Posted by HomeWork Solutions on Apr 5, 2018 10:00:00 AM

Individuals can deduct some vehicle-related expenses in certain circumstances. Rather than keeping track of the actual costs, you can use a standard mileage rate to compute your deductions. For 2017, you might be able to deduct miles driven for business, medical, moving and charitable purposes. For 2018, there are significant changes to some of these deductions under the Tax Cuts and Jobs Act (TCJA).

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Topics: nanny, CPA

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