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HomeWork Solutions

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Watch Out For These Tax Scams

Posted by HomeWork Solutions on 10/17/19 10:00 AM

According to the IRS, thousands of people have had money and personal information stolen through tax-related scams. Scammers are getting more refined, making it harder than ever to separate real correspondence from fake. Here are two of the more popular tax-related scams the IRS has seen this year.

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Topics: nanny, agency, senior, CPA

What a Great Nanny Candidate, Except…

Posted by HomeWork Solutions on 10/15/19 3:20 PM

As much as we would like to be, it’s a fact that human beings simply aren’t perfect. Even Mary Poppins, the famous nanny that saves the day admits that she was only “practically” perfect. When it comes to search for the right nanny to work in your home, we understand that you’re looking for someone as close to perfect as possible. Every agency has come across a great candidate that has a hiccup in work history. That means when you’re learning more about that person and what they have to offer, the agency is left to decide if that one gap will spoil the whole peach. The good news is, it doesn’t have to!

Even Mary Poppins admits that she was only “practically” perfect.

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Topics: nanny, agency

Case Study: How Easily Nanny Taxes Can Be Overlooked

Posted by HomeWork Solutions on 10/10/19 10:00 AM

Nanny Taxes are a very narrow but complex piece of the tax code; as such they are easy to miss and can cause considerable headaches to fix. The following case study is from a real client. The names have been changed but the rest is true.  Read on for an example of what can go wrong, even for the best of us.

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Topics: agency, CPA

Labor Department Ups FLSA Exemption Wage Thresholds

Posted by HomeWork Solutions on 10/9/19 1:00 PM

The U.S. Department of Labor has updated the salary threshold for executive, administrative, and professional employees. The threshold was last set in 2004 and this update takes into account inflation and wage growth since that time. There has also been an update to the total annual compensation level for “highly compensated employees.”

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Topics: CPA

Do I Pay my Nanny if She Is Called for Jury Duty?

Posted by HomeWork Solutions on 10/8/19 3:50 PM

Jury duty: some people dread getting called, others welcome the chance to do their civic duty and experience a bit of change of pace from their regular workday. However, when your household employee gets called to jury duty, it can be a strain on your home, and you may need to adjust schedules in order to cover your employee’s absence. When it comes to payment, you might be wondering if they need to be paid while they are on jury duty. Here are the details you should know.

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Topics: nanny, agency, senior, CPA

Fourth Quarter 2019 Tax Deadlines

Posted by HomeWork Solutions on 10/3/19 10:00 AM

Here are some of the more popular tax deadlines for corporate and other employers in the fourth quarter of 2019. This list is not exhaustive so there may be additional requirements that apply to you.

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Topics: CPA

I negotiated $750 a week in take home pay and now regret it...

Posted by HomeWork Solutions on 10/1/19 4:10 PM

It is a common, but ill advised, practice in the household employment field to negotiate wages on a take home pay basis. We have illustrated many times how parents can get themselves into budgetary hot water when they agree to a take home wage without first doing the math to figure out what the out of pocket costs are too. Similarly, a nanny or senior caregiver who simply negotiates her wage on a take home pay basis often works against her best interest.

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Topics: nanny, agency, CPA

Website Development Costs and How They Pertain to Taxes

Posted by HomeWork Solutions on 9/26/19 10:00 AM

Modern businesses must have a good website to remain competitive, even if they aren’t an eCommerce business. Developing and maintaining a site though isn’t always cheap and easy. As these costs can mount quickly, business owners often want to know how to treat those costs when it comes to taxes. This post gives you a starting point for proper categorization of website development costs.

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Topics: agency, CPA

Fur Baby Blues- Family Pets, Duties/Pay, and New Addition

Posted by HomeWork Solutions on 9/24/19 3:50 PM

For many families, their pets are a part of their family and have just as many privileges and rights as the humans in the house. So, when it comes time to hiring a new household employee, it is important to keep your pets in mind during the process. If you plan on hiring a new nanny and you have pets in your home, this is something that you should discuss with potential candidates from the very get-go.

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Topics: nanny, agency

Maternity and Medical Leave, Handling Your Nanny’s Leave of Absence

Posted by HomeWork Solutions on 9/17/19 4:33 PM

Once you find a wonderful nanny that works well with your family and that your kids love, it is easy to be protective of her and want her to be available all the time. But nannies have lives of their own and many of them want to have their own families. So, it’s important to be prepared for that fact and plan accordingly when your nanny announces that she is pregnant and will want to take maternity leave.

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Topics: nanny, agency, senior

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