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How to Complete the 2025 W-4 Form: A Simple Guide for Household Employers and Employees

Posted by HomeWork Solutions on 12/31/24 9:45 AM

Each year, the IRS releases an updated W-4 form, and while it's not mandatory for employees to fill out a new one annually, it’s a smart move to review it. Adjusting withholding helps employees avoid surprises like a big tax bill or an oversized refund at tax time.

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Topics: nanny agency, nanny, senior, 2025 W-4 form, W-4 for nannies, tax withholding for employees, nanny tax withholding

2025 Household Employment Changes

Posted by HomeWork Solutions on 12/27/24 1:28 PM

Updated December 2024

Every year HomeWork Solutions prepares a summary of new or updated household employment tax laws and benefit information.

HOUSEHOLD EMPLOYEE 2025 WAGE THRESHOLD:

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 $2,800 for 2025.

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Topics: nanny, agency, senior, CPA

Understanding FUTA Credit Reduction States: What Household Employers Need to Know for 2024

Posted by HomeWork Solutions on 12/23/24 3:45 PM

If you employ a nanny, senior caregiver, or other household worker, it’s essential to stay informed about payroll tax obligations — especially the FUTA Credit Reduction, which can impact the amount of federal unemployment tax you owe. If you’re not familiar with this term, don’t worry. We’re here to explain what it means, how it works, and how it might affect your payroll in 2024.

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Topics: nanny, senior, CPA, Household payroll compliance, FUTA Credit Reduction

How to Transition Your Caregiver to Legal Pay — The Stress-Free Way with HomeWork Solutions

Posted by HomeWork Solutions on 12/17/24 8:45 AM

Correcting the mistake of wages paid under the table is the right thing to do, and we can help.

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Topics: nanny, senior, CPA, Pay caregiver on the books, How to pay a nanny legally, Household payroll service, Pay nanny legally, Back taxes for nannies

Exploring Retirement Plans for Nannies and Caregivers

Posted by HomeWork Solutions on 12/11/24 5:00 PM

As a household employee, planning for your retirement is one of the most important steps you can take for your future. While Social Security provides a foundation, building additional savings through retirement accounts can help ensure long-term financial security. Here’s some tips on retirement planning, the retirement savings options available, and information on how building an employer contribution into your total compensation plan can help.

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Topics: nanny, senior, CPA, retirement savings account, HomeWork Solutions retirement support, nanny retirement savings, caregiver nanny retirement savings, household employee retirement savings

How to Properly Reimburse Your Nanny for Gas and Mileage Costs

Posted by HomeWork Solutions on 12/3/24 12:22 PM

If your nanny provides transportation for your children—whether it’s school drop-offs, sports practices, or playdates—it’s important to fairly reimburse them for the costs of using their vehicle. Proper reimbursement not only builds trust and goodwill but also keeps you compliant with tax and labor regulations. Here’s a straightforward guide to help you navigate mileage reimbursement for your nanny.

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Topics: nanny, nanny mileage reimbursement, Nanny driving expenses, Gas reimbursement for nanny, How to reimburse nanny for gas, caregiver reimbursement

Should I Set Up an LLC for My Household Payroll?

Posted by HomeWork Solutions on 11/13/24 11:57 AM

When managing household payroll, many people wonder if they should set up a Limited Liability Company (LLC) for additional protection. While the idea of an LLC can be appealing, it’s generally unnecessary for household employers and often doesn’t provide the legal or financial protection you might expect. Here’s why setting up an LLC is usually more trouble than it’s worth for household employment.

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Topics: nanny, senior, CPA, Should I set up an LLC for household payroll, paying a nanny, household LLC, Managing household payroll taxes, Household payroll compliance

Understanding Nanny Pay: Salary vs. Guaranteed Hours

Posted by HomeWork Solutions on 10/2/24 4:31 PM
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Topics: nanny, outsource nanny payroll, homework solutions, nanny overtime laws, nanny pay, FLSA nanny laws, household employment laws

What Happens When Your Nanny Files for Unemployment? - A Simple Guide for Families

Posted by HomeWork Solutions on 9/10/24 10:36 AM

If one of your household employees recently filed for unemployment benefits, you might be feeling unsure about your next steps. Don't worry—this is a common situation, and we're here to guide you through it. Understanding what it means when a former employee files an unemployment claim can help you respond properly and avoid any potential complications. Let’s break down the basics of unemployment claims and explain what’s required of you as an employer.

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Topics: nanny, household payroll, homework solutions

Performance Reviews That Empower: Evaluating Your Nanny or Caregiver

Posted by HomeWork Solutions on 8/7/24 10:24 AM

As household employers in 2024, we know the importance of building strong, trusting relationships with our nannies and senior caregivers. Performance evaluations are a crucial part of this, but traditional reviews can feel daunting and unproductive. It's time to transform these evaluations into empowering conversations that foster growth and satisfaction for everyone involved.

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Topics: nanny, household payroll, senior, homework solutions

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