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Update- Payroll Tax Holiday? Not So Fast...

Posted by HomeWork Solutions on Sep 2, 2020 11:00:00 AM
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Topics: nanny, nanny payroll tax, nanny tax, agency, senior, CPA, Tax Holiday

Everything you need to know about Nanny Shares and Learning Pods

Posted by HomeWork Solutions on Sep 2, 2020 8:00:00 AM

There is no doubt about it: 2020 has been a year of surprise and change. Parents have had to get creative in how they care for and school their children, in addition to adjusting their own career schedules to make it work. Nanny shares and learning pods are two effective methods that parents are using around the country to provide quality education and care for their kids.

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Topics: household employer, nanny, nanny tax, household payroll, agency, private educator, Learning pods

Payroll Tax Holiday-  What's The Impact on Employee Pay?

Posted by Jay Schulze on Aug 10, 2020 3:23:39 PM
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Topics: nanny, nanny payroll tax, nanny tax, agency, senior, CPA, Tax Holiday

Five Essential Tax-Compliance Steps When Hiring a Nanny

Posted by HomeWork Solutions on May 29, 2018 3:50:00 PM

A nanny will become an essential member of your household, caring for the most precious part of your life. So it’s a sensible decision to onboard a nanny (or any household employee) the correct way. These four steps will ensure that your nanny can begin work without delay and, come tax season, you or your tax preparer will have the necessary elements to file correctly.

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Topics: hiring a nanny, nanny, nanny tax, nanny tax compliance, agency, senior, CPA

6 Reasons to Choose HomeWork Solutions for Your Nanny Payroll

Posted by HomeWork Solutions on Mar 6, 2018 3:56:00 PM
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Topics: filing taxes, nanny, nanny tax, Senior Caregiver Payroll, agency, senior, CPA

When Do I Owe Nanny Taxes?

Posted by HomeWork Solutions on Jan 30, 2018 3:51:00 PM

Unless you’re a tax expert, you likely have some questions about what your responsibility is when it comes to paying taxes on your household employee. If you have a nanny and you have paid this person $2,100 or more in wages, you’re officially considered a household employer and you’re required to pay Medicare and Social Security taxes. You will also need to report your nanny’s income and taxes that are paid for the year, as well as pay Federal employment taxes with your federal income tax return. Most states require filings every quarter and the state and federal thresholds are often different, based on quarterly or annual wages. Although you file a schedule H annually, be aware you may be required to pay quarterly estimated tax payments.

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Topics: nanny, nanny tax, agency, CPA

3 Tools to Help With Nanny Taxes and Employment Compliance

Posted by HomeWork Solutions on Oct 12, 2017 9:00:00 AM
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Topics: nanny tax, CPA, employment compliance

My nanny doesn’t want me to pay taxes – should I care?

Posted by HomeWork Solutions on Mar 14, 2017 5:32:00 PM

You’ve found a nanny to care for your children and now comes the conversation of payment and taxes. If your nanny doesn’t want you to report her wages or pay taxes, how should you respond? It may be convenient to pay your nanny under the table, but not only is this illegal, it could be very costly if you end up getting caught. Failure to pay nanny taxes could result in hefty penalties and fines, often in the thousands of dollars range.

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Topics: nanny tax, household payroll tax

Trump Nominees Tripped Up by the Nanny Tax — Don’t Make the Same Mistake

Posted by HomeWork Solutions on Jan 26, 2017 12:35:59 PM

We’ve seen it shatter the dreams of potential officeholders, time and time again — no, it’s not adultery, bribery, or breaking into the Democratic National Headquarters — we’re talking about the nanny tax.

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Topics: nanny tax, nanny taxes

Paying Nannies Legally is the Right Thing to Do

Posted by HomeWork Solutions on Jan 3, 2017 3:07:00 PM

Having a child is a big commitment – it takes time, patience, and money, but the rewards of being a parent are unlike anything else in life. For many parents, the change in lifestyle that comes with parenting means that you need some extra hands.

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Topics: nanny tax, domestic employer legal responsibilities

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