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When DIY Nanny Taxes Go Wrong

Posted by HomeWork Solutions on 7/30/15 3:21 PM

A Nanny Payroll Case Study

There’s no doubt about it. Nanny taxes are complicated. There are federal and state taxes, as well as federal and state labor laws that need to be upheld. For some families, while taxes can be a little overwhelming, they think that they can figure it out themselves. This can be done, but before you do it yourself, you need to know it all – the ins and outs of preparing nanny taxes. If not, the do it yourself method can go terribly wrong. Consider this case study of a family that thought they had a good understanding of tax filings, but in fact, ended up making some costly errors.

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Topics: household payroll literacy, nanny taxes, payroll recordkeeping, nanny tax case study

Household Employers - Nanny or Caregiver Overtime Issues

Posted by Kathleen Webb on 5/27/14 8:08 AM

Many household employers agree with their caregiver - whether this be a nanny, senior caregiver or other - on a set wage per week for a certain number of regular hours. This is common, and fine, yet a household employer who fails to translate this weekly wage into an hourly rate can open themselves up to costly wage and hour disputes. This is the last thing you want to be involved in, as wage and hour lawsuits are expensive. President Obama's initiative to protect workers from unpaid overtime means the US Department of Labor is adding 300 more investigators, and household employers will be even more at risk for getting caught.

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Topics: overtime rules, payroll recordkeeping

Help Me Explain Paycheck Deductions to my Housekeeper

Posted by Kathleen Webb on 5/15/14 8:24 AM

I worked with a new client who had just hired a housekeeper to help her dad around the house. Her father needed help at home - laundry, cooking and just general homemaking services. A recent widower, he had never been terribly involved in household management according to his daughter, and it was getting away from him. My client was referred to an experienced senior homemaker who was looking for work through word of mouth, and she and her brother agreed to privately hire the housekeeper to help Dad several days a week.

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Topics: payroll recordkeeping

Tax Tidbit: Organizing Your Household Employment Tax Documents

Posted by Kathleen Webb on 3/14/14 7:00 AM

If you employ a household employee (defined by the IRS as any domestic worker earning more than $1900 in calendar year 2014), you are responsible for the so-called "nanny taxes". By keeping track of paperwork, you'll be in a much better position come tax time next year. Nanny agency owners can also benefit from staying organized during the year whether they are filing their agency's taxes on their own or with a tax preparer.

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Topics: household employee taxes, household employee, payroll recordkeeping, nanny tax compliance

Revised Recordkeeping Requirements for Employers of Live-in Domestic Service Workers

Posted by HomeWork Solutions on 10/18/13 12:38 PM

The US Department of Labor on September 17, 2013 issued revised rules within the Fair Labor Standards Act (FLSA) that codify recordkeeping requirements of employers with live in domestic service workers. The revised rules closely mirror the recordkeeping advice that HomeWork Solutions gives all household employers. Good recordkeeping is not just the law; it also protects the household employer from unpaid wage claims.

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Topics: live-in nanny, live-in caregiver, payroll recordkeeping

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