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Watch Out For These Tax Scams

Posted by HomeWork Solutions on Oct 17, 2019 10:00:00 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

Case Study: How Easily Nanny Taxes can be Overlooked

Posted by HomeWork Solutions on Oct 10, 2019 10:00:00 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 Oct 9, 2019 1:00:00 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 Oct 8, 2019 3:50:00 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 Oct 3, 2019 10:00:00 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 Oct 1, 2019 4:10:00 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 Sep 26, 2019 10:00:00 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

Responding to a Bad Review: Taking the High Road After A Low Blow

Posted by HomeWork Solutions on Sep 12, 2019 1:00:00 PM

The Internet has become a must-have. It makes our lives easier and gives us the tools we need to research and find information with just a few clicks of a button. However, it also gives people the platform to write what they want to, which can be both good and bad. Because more and more people turn to writing reviews for businesses online nowadays, businesses have had to think about how to best respond to the reviews that are coming in about them. Unfortunately, bad reviews happen occasionally, and your response makes all the difference.  

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Topics: agency, CPA

Tax Liability and “Innocent Spouses”

Posted by HomeWork Solutions on Sep 12, 2019 10:00:00 AM

Generally speaking, couples filing jointly are also jointly responsible for the tax obligation of their household. This means that the IRS can go after either spouse for the entire tax obligation, not just the part associated with their earnings. One exception to this rule is called an “Innocent Spouse.”

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Topics: nanny, agency, CPA

Are you a household worker who always worked under the table? Can you receive Social Security when you retire?

Posted by HomeWork Solutions on Sep 10, 2019 4:18:00 PM

The short answer to this question is maybe.

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Topics: nanny, agency, senior, CPA

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