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What Portion of In Home Caregiver Expenses is Deductible as a Medical Expense?

Posted by HomeWork Solutions on Jan 9, 2018 3:17:00 PM

If you itemize your deductions when you’re filing taxes, you may be able to deduct certain expenses that were paid to your in-home caregiver. If you are trying to determine what portion of in-home caregiver expenses can be deducted, there are several stipulations that you should know about.  As always, do consult a qualified personal income tax preparer to help with the details.

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Topics: agency, senior, CPA

Nanny Payroll Service You Can Trust

Posted by HomeWork Solutions on Jan 2, 2018 3:52:00 PM

If you’re considering hiring a nanny and you’re determining how much you want to pay, you should also factor in the cost of hiring a nanny payroll service that will have your back. A partner to help make sure you have everything covered in terms of payroll, taxes, and benefits. By hiring a nanny payroll service that you can trust, you’ll have peace of mind that hardworking payroll specialists are working to make sure you have everything in order the first time, so there are no surprises when it comes to tax time.

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Topics: nanny, agency, senior, CPA

2018 - What's New in Nanny Taxes?

Posted by HomeWork Solutions on Dec 14, 2017 3:45:00 PM

Every year there are a host of changes to labor law and reimbursement rates that impact nanny household payroll. Below please find a quick overview of the significant changes that go into effect in 2018.

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Topics: nanny, agency, senior, CPA

W-2 Reporting Required for Nanny Tax-Free Healthcare Benefits

Posted by HomeWork Solutions on Dec 7, 2017 3:07:00 PM

Earlier HWS reported on changes to tax-free employer assistance with nanny health insurance in 2017. As we approach the end of the year it is important to note that the reimbursement by an employer for nanny health care expenses - or any household employee's health care reimbursement - requires reporting of the benefit on the nanny's W-2 form.

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Topics: nanny, agency, senior, CPA

3 Mistakes Families Make when Hiring Senior Home Care

Posted by HomeWork Solutions on Dec 5, 2017 3:47:00 PM

Finding the right in-home care for your loved one is an incredibly important decision. Maybe your loved one needs medication supervision on a regular basis, or maybe they are recovering from a fall or surgery. In-home caregivers can provide non-medical services as well as homemaker tasks, as well as administering medication and helping with bathing and grooming. Finding the right person to care for your loved one means you’ll need to take some time to do your research, including interviewing several people that you feel might be the best match. But, before you set out on your journey of finding a new household employee, here are some mistakes that should be avoided.

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Topics: elder care, senior home care, agency, senior, CPA

How Small and Household Employers can Offer Health Insurance

Posted by HomeWork Solutions on Nov 9, 2017 9:00:00 AM

The Affordable Care Act allows small employers to make health coverage available to their employees through the Small Business Health Options Program (SHOP). The 21st Century Cures Act enacted another option as well, the Qualified Small Employer Health Reimbursement Agreement (QSEHRA).

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Topics: nanny, agency, senior, CPA

Use a Dependent Care Account to Help Pay Nanny or Caregiver Expenses

Posted by HomeWork Solutions on Nov 7, 2017 4:07:00 PM

When you first hire your nanny or caregiver, there are a lot of different action items that need to get set into motion. Defining wages, determining hours, setting up legal payroll and writing an employee contract are some of the primary things that need to be settled at the get-go. Investigating how to navigate tax breaks you might have when hiring an in-home employee is another big one. If you’re wondering if you can use your dependent care flexible spending account, here are some of the basic things you should know.

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Topics: nanny, agency, senior, CPA

When it is time to look for a caregiver to be with Mom at home?

Posted by HomeWork Solutions on Oct 24, 2017 3:49:00 PM

In-home senior care is a great service that can allow elderly loved ones to live on their own and to have the care and attention they need as they age. Aging in place is very important to some seniors, but as their bodies age, they may need help for daily tasks or medical help. How do you know when it’s time to hire an in-home caregiver to come help? Here are some signs that your loved one might show which indicate it may be time to look for additional assistance inside the home.

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Topics: Senior Caregiver Payroll, senior

In Home Senior Care: Private Hire v. Agency Services

Posted by HomeWork Solutions on Oct 3, 2017 3:58:00 PM

If your loved one needs assistance in the home doing routine tasks, there are some options that you will need to consider. In-home senior care for the long term means that you could directly hire someone privately, directly hire someone that you know personally, or engage a senior care agency to staff and manage your caregiver. Knowing the major differences between these options will help you make the right decision.

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Topics: senior, CPA

My Nanny has a B-1 Visa, Now What?

Posted by HomeWork Solutions on Sep 26, 2017 3:40:00 PM

US Citizens and foreign nationals coming to the US for a temporary stay may legally bring their nanny or other domestic help with them by securing a B1 visa. These employers are typically senior executives for large corporations and certain US government employees routinely posted abroad. The US State Department, which oversees the issuance of the B1 visas, imposes certain requirements on the employer to ensure that the foreign domestic worker is treated in accordance with US labor laws and is not exploited.

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Topics: nanny, agency, senior, CPA, B1 Visa, B-1 Visa

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