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How In-Home Senior Care Supports Independence and Well-Being for Aging Parents

Posted by HomeWork Solutions on 9/18/24 8:45 AM

As your parent grows older, it’s normal to notice subtle changes that might cause concern. Perhaps they’re forgetting to take their medication on time, need a little more help with cooking, or seem less steady on their feet. It’s not easy to see these shifts, but aging is a journey we all experience, and sometimes, a bit of extra support can go a long way.

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Topics: aging in place, senior, In Home Senior Care, Aging at home, caregiver services

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

Hiring a Nanny or Caregiver in 2024? Essential Unemployment Insurance Facts

Posted by HomeWork Solutions on 8/2/24 9:11 AM

If you’ve recently hired a household employee, you’re likely aware you have employment tax obligations. One crucial and often overlooked responsibility, in addition to social security and Medicare taxes, is paying Federal and State Unemployment Insurance taxes. This benefit program can be confusing, but we’ll explain the essential details.

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Topics: nanny, senior, homework solutions

Preventing Caregiver Burnout: Practical Advice for Household Employers

Posted by HomeWork Solutions on 7/25/24 9:17 AM

Being a senior caregiver requires immense love, compassion, and empathy. Caring for someone who is aging or ill takes a toll on both time and emotions. If your caregiver is not making time for themselves, they may feel stressed, exhausted, and at risk of complete burnout. Here are some ways to help prevent burnout in your caregiver so they can continue giving their best to your loved one.

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Topics: senior, In Home Senior Care, Caregiver burnout prevention, Caregiver benefits, paying a caregiver

Simplifying Senior Home Care Hiring: Costs and Considerations

Posted by HomeWork Solutions on 6/25/24 1:45 PM

Caring for an aging loved one can be overwhelming, especially when balancing work and other responsibilities. More families are exploring the option of privately hiring senior home care to ensure their loved ones can age in place safely and happily. You might wonder what to consider when hiring senior home care assistance. Let's break down the costs and options for in-home senior care.

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Topics: aging in place, household payroll, senior, Aging at home

Minimum Wage Increases Coming in July 2024

Posted by HomeWork Solutions on 6/24/24 12:42 PM

Minimum wage will be increasing in many states and cities across the country.  As longtime advocates for fair and legal pay, we believe this is long overdue!  Domestic employees deserve a living wage that fairly compensates them for the invaluable work they do to keep our households running.

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Topics: senior care, nanny, agency, senior, CPA

How Does The IRS Find Out About Under-Reported Income?

Posted by HomeWork Solutions on 3/5/24 11:25 AM

When new household employees reach out to HomeWork Solutions for information on how their employers should report wages, some respond with “I don’t want to pay taxes, maybe we will just do this under the table.” While under the table payments might seem tempting at first, it really isn’t a good idea to work “off the books." We remind these callers when unreported or under-reported income comes to light the taxpayer not only owes the original amount, but also penalties and interest. Often these callers ask how the IRS will find out about the payments.  So, let’s look into how under the table wages may be discovered.

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Topics: senior care, nanny, agency, senior, CPA

Does it Matter What Type of Bonus I Give My Nanny or Other Household Employee?

Posted by HomeWork Solutions on 2/8/24 3:47 PM

In the world of employment and compensation, bonuses are like icing on the cake. They are the reward that make hard work and dedication feel appreciated and recognized. For hourly employees like nannies, caregivers, and , bonuses can take two primary forms: discretionary and non-discretionary. But what are the key differences between these two, and how do they impact overtime pay? 

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Topics: senior care, nanny, agency, senior, CPA

Unlocking Tax Savings with Employee Benefits: The Power of QSEHRA/ICHRA for Your Household Employee

Posted by HomeWork Solutions on 1/16/24 11:38 AM

In the modern economy, more and more households are hiring domestic help, whether it's a nanny, caregiver, or housekeeper. These household employees play a crucial role in keeping our lives running smoothly, and it's important to recognize their dedication and hard work. One effective way to show appreciation and also maximize tax savings for you, and your employee, is by offering a Qualified Small Employer Health Reimbursement Arrangement (QSEHRA) or an Individual Coverage Health Reimbursement Arrangement (ICHRA).

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Topics: nanny agencies, senior care, nanny, nanny tax, household payroll tax, nanny benefits, household independent contractor, household payroll, agency, senior, CPA

2024 Household Employment Changes

Posted by HomeWork Solutions on 1/11/24 1:41 PM

Updated December 2023

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

HOUSEHOLD EMPLOYEE 2024 WAGE BASE:

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 $2,700 for 2024.

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Topics: nanny, agency, senior, CPA

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