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Why Paying Your Household Employee Under The Table Is a Bad Idea

Posted by HomeWork Solutions on 10/9/18 3:50 PM

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.

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Topics: nanny, agency, senior, CPA

How to Avoid Getting Hit with Payroll Tax Penalties

Posted by HomeWork Solutions on 10/4/18 10:00 AM

For small businesses and household employers, managing payroll can be one of the most arduous tasks. Adding to the burden earlier this year was adjusting income tax withholding based on the new tables issued by the IRS. (Those tables account for changes under the Tax Cuts and Jobs Act.) But it’s crucial not only to withhold the appropriate taxes — including both income tax and employment taxes — but also to remit them on time to the federal government.

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Topics: nanny, agency, CPA

What is a nanny and what does she do?

Posted by HomeWork Solutions on 10/2/18 3:50 PM

Wondering if a nanny is the best choice for your family? Hiring a nanny can be a great thing for your family and can help alleviate some of the responsibilities and stress you have as a working parent. A good nanny will have your children’s best interest in mind and taking good care of them will be their primary concern. Here is some important information about a nanny job description as well as tips on how you can foster a great nanny/parent relationship.

Nannies will take care of your children while you’re away. They will play with your kids, feed them, help them with toileting, and will comfort them when they need it. The bottom line: a nanny will step in to provide similar things that you would provide if you were there. Nannies may also do housework like wash dishes, do the laundry, straighten the children’s rooms or play areas, and more. A nanny’s specific duties will vary from family to family and the job description will need to be something that you discuss in detail with your nanny before you hire her.

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Topics: nanny, agency

Home Green Home: Save Tax by Saving Energy

Posted by HomeWork Solutions on 9/27/18 10:00 AM

“Going green” at home — whether it’s your principal residence or a second home — can reduce your tax bill in addition to your energy bill, all while helping the environment, too. The catch is that, to reap all three benefits of the renewable energy tax incentive, you need to buy and install certain types of renewable energy equipment in the home.

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Topics: nanny, agency, CPA

Is Outsourcing Household Payroll Right for Me?

Posted by HomeWork Solutions on 9/25/18 3:50 PM

You live a busy life and sometimes, you feel overwhelmed with the demands and tasks that continually pile up. If you’ve hired a household employee such as a nanny or senior caregiver and you simply don’t have the time to manage the payroll and make sure that all the taxes are being withheld properly, it may be time to consider a household payroll service.
There are many benefits to outsourcing. Here are some of the main reasons to consider delegating payroll to the professionals.

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Topics: nanny, agency, senior, CPA

Choosing the Best Business Entity Structure Post-TCJA

Posted by HomeWork Solutions on 9/20/18 10:00 AM

For tax years beginning in 2018 and beyond, the Tax Cuts and Jobs Act (TCJA) created a flat 21% federal income tax rate for C corporations. Under prior law, C corporations were taxed at rates as high as 35%. The TCJA also reduced individual income tax rates, which apply to sole proprietorships and pass-through entities, including partnerships, S corporations, and, typically, limited liability companies (LLCs). The top rate, however, dropped only slightly, from 39.6% to 37%.

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Topics: agency, CPA

Did you know it's National Nanny Recognition Week?

Posted by HomeWork Solutions on 9/18/18 3:50 PM

Your nanny works hard for you day in and day out, so making sure she feels valued and appreciated is very important! As you build a solid relationship with your nanny, they will begin to feel like they’re part of the family. So, in addition to offering a fair compensation package and regular time off, it’s nice to acknowledge her contributions to your family in special ways.

National Nanny Recognition Week 2018 is September 23 - 29. Here are some great ways you can express gratitude for a job well done.

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Topics: nanny, agency

New York 13 Hour Rule Still in Judicial Limbo

Posted by HomeWork Solutions on 9/12/18 1:47 PM

UPDATE MARCH 2019: The New York Court of Appeals upheld the NYS Department of Labor’s so-called 13 hour rule on March 26, 2019. This effectively reverses the two 2017 lower court rulings that invalidated the policy. The court specifically noted however that any negative impact on a specific shift - for example the interruption of sleep after less than 5 hours, invalidates the rule for that shift and all hours must be compensated. The burden of proof lies with the employer. 

 Imagine the frustration you would feel after working a stressful 24 hours straight, only to realize that you’re only being paid for 13 hours of that time. Home health aides in the state of New York have said ‘enough is enough’ and in May 2018, several of them as well as two nonprofit advocacy groups, sued the state’s Labor Department and the commissioner Roberta Reardon with the intention of throwing out the state’s emergency regulations that allow for this to happen. Their end goal: to be paid for every hour of a 24-hour work day.

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Topics: agency, senior, CPA

4 Essential Characteristics of a Dementia Caregiver

Posted by HomeWork Solutions on 9/11/18 3:50 PM

A dementia caregiver has a huge role, and for families looking to finding the right person to support their family with a loved one living with dementia, it can feel like a daunting task. Working with dementia patients requires not only the caregiving basics of being kind and loving, but it also requires an additional skill set. Here are four essential caregiver qualities that you should look for when looking to hire someone to help take care of your loved one.

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Topics: agency, senior

Improving a Struggling Employee’s Performance is a Two-Way Street

Posted by HomeWork Solutions on 9/6/18 10:00 AM

It’s easy to get frustrated when an employee is failing to produce the volume or quality of work you expect. A business owner, department manager, or even household employer may give in to the temptation to play the blame game, pointing a finger at the struggling worker and only exacerbating the situation.

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Topics: nanny, agency, CPA

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