When you find an amazing nanny, who is not only reliable, but aces the job every day, it is easy to lose sight of their life outside of work. Through casual conversation, your nanny may, or may not, have indicated their plans to grow their own family one day. When that day comes, and your ace lets you know they want to take parental leave, you need to understand parental leave laws, so you can be a great employer to your amazing nanny.
Topics: nanny savings, nanny tax, agency, senior, CPA
If your household employee’s immediate family member – such as a parent or a spouse – passes away, they will need some time to grieve. They will also have personal arrangements and other legal details to take care of. That’s why it is important to have an established bereavement policy in place in your employment agreement, so discussions can be kept brief in difficult times.
Governments are recognizing the need to ensure household employees are paid a living wage and slowly phasing in wage increases over a series of years. Effective July 1, 2022, 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!
Topics: senior care, nanny, agency, senior, CPA
On June 9th, 2022, the IRS announced that the tax-free mileage reimbursement limit will be increased to 62.5 cents ($0.625) per mile, effective July 1 through December 31, 2022. This increase of $.04 per mile is in recognition of recent increases in gasoline prices nationwide.
Topics: senior care, nanny, nanny tax, nanny benefits, CPA
Venmo, PayPal, and CashApp are popular and convenient apps for making payments electronically. However, if you pay your nanny or other household staff through one of these cash apps, you should be aware of a new tax reporting rule that could impact you and your employees.
While kids of all ages are dreaming about summer break, parents may be feeling a sense of panic as they scramble to find childcare and activities for the summer. If you are planning to hire a summer nanny, it is important to remember that you have responsibilities as an employer.
Topics: payroll, nanny, nanny tax, nanny tax compliance, childcare, agency, CPA, taxes
One in eight individuals in the US carries student loan debt. This burden can feel overwhelming, as is often the case for care workers whose wages have not grown at the same rate as those for whom they work. Luckily there is a relatively new program offering relief.
Topics: maid, nanny retention, nanny, caregiver, Senior Caregiver Payroll, agency, senior, CPA
Governments are recognizing the need to ensure household employees are paid a living wage and slowly phasing in wage increases over a series of years. Effective January 1, 2022, 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!
Topics: senior care, nanny, agency, senior, CPA
Updated 29 December 2021
Every year HomeWork Solutions prepares a summary of new or updated household employment tax laws and benefit information.
The IRS annually reviews, and adjusts as necessary, the wage payment threshold that obligates a family to pay Social Security and Medicare taxes. These tax withholdings are reported annually on a W-2. This threshold will increase to $2,400 for 2022.
