At HomeWork Solutions, we understand that household employment can bring unique challenges for CPAs and financial professionals. Whether it’s a client who just hired a nanny or a question about how to handle household payroll taxes, we're here to make sure you have the insights you need. To help you guide your clients confidently, we’ve compiled a list of nine essential tips that will keep you on the right track.

Topics: CPA, homework solutions

At HomeWork Solutions, we know that managing taxes can be confusing, especially when you're working as a nanny or caregiver. You might be tempted to try to simplify things by claiming "exempt" on your W-4 tax withholding form, thinking that it will allow you to keep more of your paycheck. However, this decision can lead to serious financial and legal consequences down the road.

Topics: caregiver payroll, household employee, nanny payroll, nanny taxes, household payroll, homework solutions

As household employers in 2024, we know the importance of building strong, trusting relationships with our nannies and senior caregivers. Performance evaluations are a crucial part of this, but traditional reviews can feel daunting and unproductive. It's time to transform these evaluations into empowering conversations that foster growth and satisfaction for everyone involved.

Topics: nanny, household payroll, senior, homework solutions

If you’ve recently hired a household employee, you’re likely aware you have employment tax obligations. One crucial and often overlooked responsibility, in addition to social security and Medicare taxes, is paying Federal and State Unemployment Insurance taxes. This benefit program can be confusing, but we’ll explain the essential details.

Topics: nanny, senior, homework solutions

Being a senior caregiver requires immense love, compassion, and empathy. Caring for someone who is aging or ill takes a toll on both time and emotions. If your caregiver is not making time for themselves, they may feel stressed, exhausted, and at risk of complete burnout. Here are some ways to help prevent burnout in your caregiver so they can continue giving their best to your loved one.

Topics: senior, In Home Senior Care, Caregiver burnout prevention, Caregiver benefits, paying a caregiver

As a CPA, your expertise is unparalleled, but staying abreast of every niche area of accounting can be overwhelming. Industry-specific laws and regulations, especially those governing household employees, are complex and ever-evolving. This is where outsourcing can make a significant difference, relieving you from the burden of constant learning and allowing you to provide more comprehensive service to your clients.

Topics: household payroll, CPA, schedule H

Nanny sharing is a popular solution for families balancing quality childcare with budget constraints. This arrangement allows one nanny to care for children of more than one family simultaneously. This arrangement offers social benefits for the children and financial savings for the parents. At the same time, the nanny generally makes a slightly higher hourly wage. However, as beneficial as nanny sharing can be, it also comes with challenges. Let's explore some common issues in nanny-share situations and provide practical solutions to ensure a smooth experience for everyone involved.

Topics: nanny share, nanny, household payroll, homework solutions, childcare solutions

 

Topics: nanny, household payroll, homework solutions

Caring for an aging loved one can be overwhelming, especially when balancing work and other responsibilities. More families are exploring the option of privately hiring senior home care to ensure their loved ones can age in place safely and happily. You might wonder what to consider when hiring senior home care assistance. Let's break down the costs and options for in-home senior care.

Topics: aging in place, household payroll, senior, Aging at home

Minimum wage will be increasing in many states and cities across the country.  As longtime advocates for fair and legal pay, we believe this is long overdue!  Domestic employees deserve a living wage that fairly compensates them for the invaluable work they do to keep our households running.

Topics: senior care, nanny, agency, senior, CPA