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I am the youngest of six and learned many lessons of ‘what not to do’ from watching my siblings. I observed to the owners of HWS the other day, after taking a client call, that we fix the same problems over and over for different clients. Knowledge is power even when the knowledge comes from seeing the mistakes of others.
I want to share with you my top 5 mistakes your ‘employer’ siblings have done before you so that you can learn ‘what not to do’.
Topics: nanny payroll, household payroll
Regardless of whether your household employee is full time or part time, employers are required to pay employment taxes if the employee is paid $1900 or more per year (in 2014).
Topics: household employee, household employer, nanny taxes, 1099 v w-2, household payroll tax, household payroll
In 2014, the Household Employee Wage threshold increased to $1900. This means that any household employee- such as a nanny, housekeeper or elder care worker- earning $1900 or more per year requires their employer to pay what is commonly referred to as the "nanny tax."
Topics: household employee, household employer, household payroll
Many household employers are only now beginning to seriously consider the costs and risks related to paying nannies and other household workers “on the books.” In fact, complaince rates hover around 20%. More families are recognizing the merits of filing as employers, and helping household workers with required withholding and tax payment. While filing and paying taxes on household employees brings with it additional costs and paperwork, it also avoids stiff penalties if you are audited by the Internal Revenue Service.
Topics: nanny payroll, household payroll
New Jersey has several new employment related laws that go into effect on January 1, 2014.
Topics: nanny payroll, household payroll
This year, we celebrated our 20th Anniversary. We are grateful to all of you – the clients who have placed their trust in HomeWork Solutions over the last two decades, our referral agency partners and colleagues who confidently refer our services to their clients, and we are of course grateful to our wonderful staff, the team that provides service with a smile! This milestone anniversary achievement belongs to all of us, as it is only in working together and constantly striving to not just meet but to exceed the expectations of our clients and partners that we are all successful.
Congress tackled the "Nanny Taxes" in 1995 to streamline reporting on the family's personal income tax returns* and to establish a threshold level of wages that a family has to pay before triggering 'nanny tax' obligations.
Topics: nanny tax, household payroll
Several months ago we blogged about the US Supreme Court's findings on the Defense of Marriage Act (DOMA) and how this impacts household employers or household employees in a valid same-sex marriage.
Topics: nanny payroll tax, nanny tax, household payroll
HomeWork Solutions provides professional payroll and tax services to household employers, nationwide. Our company has more than 20 years of experience helping families comply with their household employment payroll and taxes. Our office is staffed with 18 payroll professionals and 2 interns 100% dedicated to simplifying this complicated process for YOU!
Topics: nanny payroll, nanny tax, nanny taxes, calculate nanny payroll tax, household payroll
Negotiating a salary is never a comfortable situation; both parties involved will be looking for what is best for them, individually. The key to establishing a good relationship with your household employee right from the beginning, and to succeed in the negotiation, is to think like you are part of a “Win Win” situation, where both parties win and are happy with the result. A happy household employee will perform better and make your life easier – That’s a fact!
Topics: nanny payroll, nanny contract, nanny job interview, household payroll