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A Summer Nanny and the Nanny Taxes

Posted by HomeWork Solutions on 5/31/16 7:00 AM
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Summer_NannyWhat_About_the_Nanny_Taxes-What is a summer nanny? Are you responsible for the nanny taxes with a summer-only nanny?

A Nanny for Summer Vacation

It’s common for families to take on a temporary full-time nanny during summer vacation from school. “Summer nannies”, as they are sometimes called, are subject to the same employment taxes and employer tax reporting obligations as a permanent full-time nanny. Regardless of the period employment, if the summer nanny earns more than $2000 in a year, she must be provided a W-2 at year-end and the employer must submit a Schedule H with their annual Federal Form 1040 to report and remit the employment taxes.

Employer Tax Obligations for the Summer Nanny          

Social Security and Medicare taxes must be collected from each or the nanny’s paychecks, otherwise the family becomes responsible for paying both the nanny’s and the family’s portion of the tax. Unemployment taxes, if applicable, are paid fully by the employer, with reporting likely on a quarterly basis. For example, if a summer nanny begins in May, she will likely incur these taxes in the second quarter (April, Map, June, and July).

Money-Saving Advice

Do you have neighbors or family friends close by with children of a similar age to yours? Many people are unaware of the money-saving benefits of a nanny share. Curious about how sharing a nanny might make this service accessible for your family? Talk to one of our household payroll experts at 1-800-626-4829 or consult Home Work Solutions’ free payroll guide.

Topics: summer nanny, nanny tax, nanny taxes

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