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The "Nanny Taxes" Explained by HomeWork Solutions

Posted by HomeWork Solutions on 9/19/13 3:12 PM

Our demanding careers and busy lives sometimes leads us to hire someone to help us out around the house.  If you have hired a nanny, housekeeper, elder caregiver, personal assistant, or any other person to provide services in your home you might become a household employer.  What does it mean?

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Topics: nanny tax, household payroll tax, nanny tax compliance

Back to School Transitions: Nanny to Nanny/House Manager

Posted by Vanessa Vidal, FPC on 8/13/13 6:00 PM

Summer has come to an end.  Great memories.  Lots of fun, friends, playdates, swimming pool, beach vacation, etc …

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Topics: housekeeper, cleaning lady, household payroll tax

Accountants' Value Transcends Billable Hours

Posted by Kathleen Webb on 8/1/13 9:29 AM

How pleased were we to read the latest article in the New York Times by economic reporter Adam Davidson, "What’s an Idea Worth?".

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Topics: elder care, nanny income tax, accountants, nanny tax, household payroll tax

Hard Choices for Household Employers - Immigration Reform and Nanny Tax Compliance

Posted by Vanessa Vidal, FPC on 7/9/13 6:23 PM

Congress is debating Immigration Reform, legislation that would establish a path to citizenship for the about eleven million undocumented workers living and working in the shadows today, bypassing tax law obligations.  A good portion of these are employed as household workers such as nannies, housekeepers and senior caregivers. 

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Topics: domestic employer legal responsibilities, household payroll tax, nanny tax compliance

Nanny Tax Amnesty - Prelude to IRS Enforcement?

Posted by Kathy Webb on 3/11/13 10:44 AM

Federal legislators are scrambling to raise revenues and lower expenses to reduce deficits, and the Internal Revenue Service (IRS) is under considerable pressure to improve tax collections. Employment taxes, including the "nanny taxes", are estimated to be undercollected by $73 -78 Billion per year.

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Topics: babysitter nanny tax, nanny payroll tax, nanny tax, household payroll tax

4 Common Errors: The Nanny or Senior Caregiver Compensation Offer

Posted by Kathleen Webb on 2/25/13 1:02 PM

You have a new baby in the house, you are not sleeping well, and you need to line up a great nanny before you return to work. Or mom is declining and you have to hire a senior caregiver to stay with her while you are working because she just is not safe alone any longer. Hiring caregivers, whether a nanny for your children or someone to care for your aging loved one, is a stressful experience.

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Topics: elder care, senior caregivers, household payroll tax

Immigration Reform: Undocumented Nannies?

Posted by Kathy Webb on 2/12/13 11:00 AM

President Obama and congressional leaders in both parties have re-energized the debate on proposed immigration reform in the last several weeks. A "pathway to citizenship" for undocumented aliens currently residing in the US is a key element of the debate.

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Topics: nanny undocumented, household payroll tax, payroll tax enforcement

W-2 deadline - What to do if you haven’t gotten yours?

Posted by HomeWork Solutions on 1/29/13 5:52 PM

Q. The W-2 deadline has passed by and you haven’t gotten yours? What to do?

IRS requires employers to post mark W-2 Forms no later than January 31st
The IRS encourages you to allow at least until February 15th for the form to be delivered. They recommend you contact your employer at the earliest possible date to confirm that they have your current address if you have moved in the last year.

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Topics: household payroll tax

Hiring a Senior Home Care Worker? Important Payroll Information

Posted by HomeWork Solutions on 1/21/13 3:53 PM

More and more older Americans are choosing to live in their homes for as long as possible, or aging in place. The senior who wants to stay in their own home often needs some non-medical assistance to meet this goal, including help with housekeeping, driving, cooking, and even some activities of daily living such as dressing and bathing.

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Topics: household payroll tax, nanny background screening, Hiring Elder care, senior home care

We have a regular babysitter. Do I have to report taxes?

Posted by Kathy Webb on 1/7/13 9:05 AM

Q. We have a regular babysitter. Most weeks she watches the children 3 afternoons/evenings a week, just until I get home from work, so my wife can attend classes. We only pay her $200 a week. I have heard about "nanny taxes" but since she is not full time or a real nanny, that doesn't apply to me, right?

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Topics: elder care, senior caregivers, babysitter nanny tax, housekeeper, cleaning lady, maid, summer nanny, companionship services, household payroll tax

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