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Managing Household Payroll: A CPA’s Guide to Navigating Your Clients’ Nanny Taxes

Posted by HomeWork Solutions on 6/6/24 1:56 PM

For CPAs, now is a great time of year to ensure clients with household employees—like nannies—are doing things the right way to make tax time easier for them and for you. It’s ideal if these clients have diligently tracked hours, issued accurate paychecks with the appropriate Social Security and Medicare taxes withheld, and kept up with quarterly unemployment tax filings and W-2 distribution. Unfortunately, this scenario is more the exception than the rule. Many employers of household employees are either not fully aware of their responsibilities or find themselves too pressed for time to manage them effectively, often creating additional workload for their CPAs.

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Topics: household employee, household payroll, CPA

Tips to Successfully Onboard Your Household Employee

Posted by HomeWork Solutions on 4/30/24 11:17 AM

When you hire a new household employee, it's important to handle the process carefully and thoroughly. Whether you're welcoming a nanny, a senior caregiver, or a household chef, understanding the key steps can help ensure a smooth integration into your home and family life. Here are several essential considerations to remember as you begin this important journey.

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Topics: household employee taxes, caregiver payroll, household staffing agency, household employee, hiring a nanny, nanny employment practices, nanny payroll, nanny payroll tax, nannies, nanny tax, nanny employee, domestic employer legal responsibilities, household payroll, Hiring Elder care, hiring care for seniors, domestic worker, caregiver management

Our Nanny is Leaving, What Now?

Posted by HomeWork Solutions on 4/23/24 3:41 PM

When your nanny decides to leave, whether the parting is mutual or unexpected, it can be an emotional and complicated time for everyone involved. Here are some important steps to consider to ensure a smooth transition and to maintain a positive relationship through the change:

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Topics: caregiver payroll, household employee, household employer, hiring a nanny, nanny employment practices, nanny taxes, nanny employee, nanny return of family property, household payroll, nanny employment termination, nanny separation, caregiver, domestic worker, childcare, child care

Unlocking Tax Savings with Employee Benefits: The Power of QSEHRA/ICHRA for Your Household Employee

Posted by HomeWork Solutions on 1/16/24 11:38 AM

In the modern economy, more and more households are hiring domestic help, whether it's a nanny, caregiver, or housekeeper. These household employees play a crucial role in keeping our lives running smoothly, and it's important to recognize their dedication and hard work. One effective way to show appreciation and also maximize tax savings for you, and your employee, is by offering a Qualified Small Employer Health Reimbursement Arrangement (QSEHRA) or an Individual Coverage Health Reimbursement Arrangement (ICHRA).

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Topics: nanny agencies, senior care, nanny, nanny tax, household payroll tax, nanny benefits, household independent contractor, household payroll, agency, senior, CPA

Bad Weather is Easy to Navigate With a Good Work Agreement

Posted by HomeWork Solutions on 1/9/24 11:34 AM

It is time to plan ahead and have an inclement weather policy in place for the upcoming winter weather. Snowy or icy conditions can be unsafe, and safety should always be the top priority when determining if an employee should commute in to work. In the event of a weather emergency, having an inclement weather policy in place ensures everyone knows what to do.

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Topics: payroll, nanny agency, senior care, nanny, nanny work agreement, household payroll, senior

Do I Have to Pay My Nanny, Senior Caregiver, or Other Household Employee Overtime?

Posted by HomeWork Solutions on 12/12/23 11:29 AM

The short answer is yes. Domestic employees, such as nannies, household assistants, and elder care providers are hourly employees under the law, and therefore must be paid overtime. The Fair Labor Standards Act (FLSA) provides the framework to determine weekly overtime requirements for household workers. Some states also have laws requiring daily overtime. It is important to understand all applicable rules to determine when overtime pay is due.

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Topics: eldercare, caregiver payroll, nanny agency, senior care, nanny employment practices, nanny, nanny tax, nanny overtime, household payroll, Senior Caregiver Payroll, agency, senior, CPA

Is Your Employee’s Healthcare Plan ACA Compliant?

Posted by HomeWork Solutions on 12/7/23 11:25 AM

If you are seeking to provide a tax advantaged healthcare reimbursement, such as a QSEHRA, to your household employee, you need to make sure it is ACA compliant. Let's delve into what it takes for a plan to be ACA-compliant and what might not meet those standards.

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Topics: eldercare, household employee, nanny agency, senior care, nanny, nanny health insurance, household payroll, senior caregiver health insurance, agency, senior, CPA

What Expenses Can Be Reimbursed When Hiring a New Employee?

Posted by HomeWork Solutions on 7/13/21 10:36 AM

If you recently hired a household employee who lives out of town, there is a good chance you have discussed reimbursement for moving expenses. These costs can be a burden for employees, so employers often step in and help with the expenses or cover them completely. Here are some things to remember when it comes to paying for moving-related costs surrounding the hiring of your new employee.

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Topics: household employee, household employer, nanny expense reimbursement, household payroll literacy, nanny agency, household payroll, caregiver, IRS

What Benefits Should I Offer My Nanny?

Posted by HomeWork Solutions on 6/1/21 10:00 AM

Are you considering hiring a nanny? As a household employer, paying your nanny a fair wage is essential. While you may not be required to offer paid vacation, health insurance, paid sick time, or retirement savings plans, offering some benefits is important. Benefits can help you attract and retain the best nannies in the industry. In addition, it helps your nanny avoid exhaustion or burnout. So, while you are considering your nanny's employment details, make sure you think seriously about what it takes to provide a good benefits package. 

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Topics: nanny employment practices, nanny, nanny payroll tax, nanny health insurance, nanny benefits, household payroll

Do I Need to Pay Taxes for My Summer Nanny?

Posted by HomeWork Solutions on 5/25/21 10:00 AM

Summer is right around the corner, and kids are dreaming of their extended vacations. Unfortunately, many parents don't get the same amount of time off from their work responsibilities. Will you need an extra hand with the kids this summer?

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Topics: household employee, nanny summer schedule, nanny agency, nanny payroll, nanny payroll tax, nanny tax, nanny wage, household payroll, temporary nanny, nanny job search

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