Nanny wages have been on the steady increase for the last decade and from 2003 to 2017, the average nanny wage has increased 20%. Paying your nanny a fair wage is part of what keeps her happy and loyal to your family in her role. After all, she works hard for your family all year long and it is important to recognize her for a job well done. One way to acknowledge her efforts, above and beyond her wage, is through a end of year bonus. A typical end of year bonus is one or two weeks pay. For many families, paying a nanny additional cash for a bonus could be outside of the budget, particularly if the nanny is well compensated already. If that’s the case, there are several other nanny gift ideas that can work as great alternatives to help recognize your nanny’s work for the year.

Trade secrets are among the most critical yet often overlooked assets of any organization. They aren’t always as sophisticated as proprietary software or as famously secret as Coca-Cola’s formula. A trade secret can be as seemingly innocuous as a customer list, business strategy, policy manual or pricing sheet.

Divorce can be difficult for everyone involved, but it can be especially hard for children to understand. Even after divorce papers are signed and everything is completed legally, you will still need to figure out how to co-parent and establish a relationship that supports your children through this new life transition. When the holidays come, it can be an especially emotional time for children because the traditions that they once had will likely change. Here is some helpful advice for divorced parents during the holidays.

Classifying a worker as an independent contractor frees a business or family from payroll tax liability and allows it to forgo providing overtime pay, unemployment compensation and other employee benefits. It also frees the business from responsibility for withholding income taxes and the worker’s share of payroll taxes – household employers can legally omit withholding even for an employee.

One of the biggest concerns for family business owners is succession planning. Often, the best time tax-wise to start transferring ownership and executing a strategy for family business succession planning is long before the owner is ready to give up control of the business.

A family limited partnership (FLP) can help owners enjoy the tax benefits of gradually transferring ownership yet allow them to retain control of the business.

Background screenings and reference checks are important parts of the hiring process. Which one do you need? As experts in the nanny field, we recommend that you do both. Here are the differences between the two and why it’s critical to get both done before you hire anyone to work inside your home.

Under the Tax Cuts and Jobs Act, employees can no longer claim the home office deduction. If, however, you run a business from your home or are otherwise self-employed and use part of your home for business purposes, the home office deduction may still be available to you. Here is a full explanation of the home office deduction requirements.

Nannies spend a lot of time with the kids each day. That often means there is a lot of dialogue and sometimes many hours of answering questions or explaining things. When it comes to major life changes or happenings around the world, kids are usually observing more, even though we may not think they’re paying that much attention. Things going around them can affect them, so it’s important to promote positive communication.

Once an employer identifies a prospect for an open position and sets up an interview, another great challenge arises: How do you effectively use the interview to determine whether this person is right for your organization? Household employers, this means you too!

You’ve done your research and interviewed lots of potential candidates for your household employee position. Whether it’s a nanny, an in-home senior caregiver, or someone else that will work regularly in your home with you, making the decision to hire the right person can feel like a lot of pressure. And more than likely, you have questions on what your responsibilities are for paying taxes on your household employee.