Nanny Taxes
Help! I’m a Nanny and Didn’t Get a W-2
At this time of the year we often hear from nannies with questions about taxes. If you are a nanny and haven’t received a W-2 from your employer, here are a few things you can do: 1. Ask the family if they’ve prepared your W-2 and when you can expect it. It’s entirely possible that…
Read MoreWhat Happens If I Don’t Pay Nanny Taxes?
“Not paying your nanny taxes may seem like an easy way to save some money and not have to deal with the hassles of calculating and remitting taxes. Plus, if you don’t pay nanny taxes, how is anyone going to find out? Your nanny is on board as she gets a few extra dollars in…
Read MoreIt’s Time to Pay Your Nanny Taxes
Last week, GTM Payroll Services “laid out the consequences for intentionally avoiding nanny taxes and getting caught. But what about families who want to do it right but make a mistake and find themselves in trouble? Getting nanny taxes right can be confusing and time-consuming especially if you’re trying to do it yourself. Here are four…
Read MoreEvery Family Needs A Work Agreement With Their Nanny
TLC Family Care has always asked families and nannies to complete a work agreement before the nanny begins. Our friends at Breedlove and Associates share with us why the nanny work agreement or nanny contract is so important. Hiring a nanny can be both exciting and nerve-wracking, especially for ultra-busy, sleep-deprived families. Often, the obsession…
Read MorePaying Your Nanny Legally is the Right Thing To Do
Every January, we’re asked by both nannies and parents on how to file taxes as an employee / employer. A nanny is considered a household employee and should receive a W-2. Many times both nannies and parents find this process confusing. There are some wonderful services out there to help both parties navigate the complicated…
Read MoreNanny Pay and the Overtime Rule of 2016
On December 1st, 2016 the final rule for the overtime laws in the Fair Labor Standards Act takes effect. The rule simplifies overtime laws and makes them easier for employers and employees to understand. The final rule will: Raise the salary threshold indicating eligibility from $455/week to $913 ($47,476 per year), ensuring protections to 4.2 million…
Read MoreMonday, April 18th is Tax Day!
Taxes are due in just a few days! As a household employer are you looking for a way to reduce some of your tax burdens? GTM and Associates recommends a few ways you can do this. 1. You can reimburse your dependent care expenses with pre-tax funds through an employer sponsored Flexible Spending Account. Check…
Read MoreHow to Use Your Childcare Tax Credit
April 15th is almost here and many of you are working on filing your taxes. Over the last few weeks TLC for Kids has received calls and emails about how to handle nanny taxes. We are not tax experts at TLC for Kids, so we recommend using Homepay for all your household employment needs. …
Read MoreUnderstanding Nanny Taxes
Do you have a summer nanny working for you this season or an after-school nanny starting in the fall? Many of TLC’s clients hire a TLC caregiver to be their full-time nanny during the summer or a part-time, after-school nanny to help out during the school year. Having a nanny makes life a lot easier,…
Read MoreWhy didn't I get a W-2?
When tax time comes around every year TLC for Kids is often asked this question…Why didn’t I get a W-2? Babysitters often times do not receive W-2’s from the families they babysit for. Nanny tax experts Breedlove and Associates share the reason why. Nannies who work for one or more families on a temporary basis usually have lots of tax…
Read More