As families plan childcare arrangements for summer break we want to revist one of our most popular blog posts.  When budgeting and crafting a compensation plan to offer your employee, be sure to consider the items below so you don't miss out on tax breaks!

 

Let’s face it- no one enjoys paying taxes. As a household employer, you set a budget for employment costs and seek out the most highly qualified employee within that budget. Don’t be surprised by employment taxes, and don’t neglect an opportunity to minimize them by including forms of non-taxable compensation and benefits in an employment offer. By thinking beyond gross pay to total compensation, you can increase employee take-home pay and make a more attractive offer to your ideal candidate.

Topics: maid, nanny retention, nanny, caregiver, Senior Caregiver Payroll, agency, senior, CPA

Governments are recognizing the need to ensure household employees are paid a living wage and slowly phasing in wage increases over a series of years.  Effective January 1, 2022, 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!

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

Updated 29 December 2021

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

HOUSEHOLD EMPLOYEE 2022 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 $2,400 for 2022.

Topics: nanny, agency, senior, CPA

If you are hiring a nanny or caregiver to work in your home, offering a competitive compensation package with health insurance is important. However, the details surrounding health insurance coverage can get confusing. Here are some things to keep in mind.

Topics: nanny, agency, senior, CPA

Let’s face it- no one enjoys paying taxes. As a household employer, you set a budget for employment costs and seek out the most highly qualified employee within that budget. Don’t be surprised by employment taxes, and don’t neglect an opportunity to minimize them by including forms of non-taxable compensation and benefits in an employment offer. By thinking beyond gross pay to total compensation, you can increase employee take-home pay and make a more attractive offer to your ideal candidate.

Topics: maid, nanny retention, nanny, caregiver, Senior Caregiver Payroll, agency, senior, CPA

One of the most important aspects of hiring a household employee is determining if they have any criminal history.  While some minor offenses might not be a deal breaker, it’s important to have a full picture of who your candidates are so you can hire the right person for your family. Armed with a complete background check and employment verification, you can get your questions answered and make your hiring decision.

Topics: maid, nanny retention, nanny, caregiver, Senior Caregiver Payroll, senior

Establishing a regular recognition and reward system for your household employee(s) ensures that they feel valued and appreciated for their efforts. Paying a fair wage and benefits is the best way to show you respect and value your employee’s work, but when they go above and beyond, acknowledging them in a greater way is important. Here are some ways to recognize and reward your employee for a job well done.

Topics: maid, nanny retention, nanny, caregiver, Senior Caregiver Payroll, agency, senior, CPA

Topics: nanny, agency, senior, CPA, coronavirus, COVID-19

Topics: nanny, agency, senior, CPA, coronavirus, COVID-19

Seeing your parents age is never an easy process. Mobility and independence may start to decrease and decisions on who will help take care of them will need to be made. Assisted living and in-home care are two of the main possibilities, and many times in-home care is the most desirable choice. There may be cost advantages, and you can get the personalized attention your parents may need in a location that keeps them comfortable.

Topics: assisted living, hiring care for seniors, senior home caregiver, senior