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1-800-NANITAX (800-626-4829) Enroll Now Log In
Updated 11 January 2021
Every year HomeWork Solutions prepares a "what's new or changed" roundup of household employment tax laws and benefit information.
The IRS annually reviews, and adjusts as necessary, the wage payment threshold that obligates a family to pay Social Security and Medicare taxes and issue employees W-2 forms. This threshold will increase to $2,300 for 2021.
It is no secret that 2020 has been a difficult year for many families. 2021 brings hope and possibilities, and for those resolving to make this upcoming year run more smoothly, hiring experienced in-home employees can help. Whether it is a senior care professional, nanny, housekeeper, a personal chef, or someone else that can assist around the home, hiring domestic employees for the services you need is incredibly beneficial.
Topics: nanny agencies, nanny payroll tax, nanny tax compliance, household payroll, caregiver, senior home care, nanny job search, child care
Whether you hired a nanny, a housekeeper, a personal assistant, or a private educator this year, there are some important things to know when it comes to filing taxes. When you hire someone to work in your home, you become an employer. Tax and labor laws generally apply, even if there are some small exemptions unique to household employers. Many families don’t know this and make the mistake of paying the employee “off the books.” This could be a very costly error. Here are some specific ways to avoid domestic employee tax problems.
Topics: housekeeper, household employee taxes, nanny payroll tax, nanny hourly wage, nanny independent contractor, nanny tax compliance, household payroll, caregiver
Updated 22 December 2020
Every year HomeWork Solutions prepares a "what's new or changed" roundup of household employment tax laws and benefit information.
The IRS annually reviews, and adjusts as necessary, the wage payment threshold that obligates a family to pay Social Security and Medicare taxes and issue employees W-2 forms. This threshold will increase to $2,300 for 2021.
Timeless holiday songs are once again playing on the radio, that festive spirit can be felt in the air and year end celebratory planning can be found everywhere … This is one of my favorite seasons of all. It is that special time of year when we take the time to appreciate the wonderful people in our lives, and take a moment to show our appreciation to those special people that make our everyday lives better. We all start to feel that holiday spirit this time of year!
Many families incorporate this spirit into their household employment relationships as well. If you have a nanny, senior caregiver or other household employee, now is the time to consider how you might demonstrate your appreciation to your employee ...
Topics: nanny paid time off, nanny bonus
Need a housekeeper, nanny, personal assistant, or estate manager to lend a helping hand in your home on a regular basis? Once you find the right person, you want to make sure that they stay employed with you for as long as possible. That means ensuring that everything is kept on the up and up – from communication, to a set payroll schedule, to tax withholdings. Hiring an in-home employee makes you a household employer. And you’ll need to be aware of what your legal responsibilities are.
Topics: elder care, household employer, calculate nanny payroll tax, 1099 v w-2, domestic employer legal responsibilities, nanny tax compliance, household payroll, caregiver
Mom is struggling to remember to take her medications on time. She is having difficulty cooking and you are noticing a decline in hygiene. Maybe she is a bit wobbly on her feet as she continues to age, putting her at greater risk for a fall. These things can be part of the aging process, but it is difficult to watch. When you want what is best for your aging parent, what do you do? In-home senior care is the answer for many families around the country. This allows your elderly loved ones to live in their own home, on their own terms. Here are some reasons why hiring a senior caregiver can help.
Topics: eldercare, home health workers, senior care, caregiver, senior home care, senior home caregiver, senior caregiver employment practices
Healthcare open enrollment season is here, so we've asked our partners at Take Command Health to offer insights on why a Healthcare Reimbursement Arrangement (QSEHRA or ICHRA) may be right for you and your employee. Here is CEO Jack Hooper's take:
Topics: nanny agency, nanny, senior, CPA, HRA, Healthcare
Did your clients hire a nanny, private tutor, or senior caregiver this year? Due to work at home orders and government shutdowns of schools and childcare facilities, you should be expecting more “Nanny Tax” issues than ever before. Here’s why you should act now:
Topics: hiring a nanny, nanny tax, CPA