Posts Tagged ‘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 MoreBest Practices to Establish the Perfect Nanny Relationship
Our guest post today comes from International Nanny Association. You’ve finished your search and have finally hired the best-fit nanny for your family, but where do you go from here to ensure that you develop the best possible nanny relationship ongoing? Honeymoon Period In every new job, both the employer and employee will be…
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 MoreFederal Reporting Thresholds for Household Employers
Tax information for employers and nannies is being updated for the new year. Thanks to our friends at HomePay for this valuable information all nannies and employers should know. The earnings threshold that triggers the requirement to remit FICA taxes on a household employee’s wages will increase from $2,400 in 2022 to $2,600 in 2023.…
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 MoreNannying & The Work-at-Home Parent Part 2
Now that there have been boundaries and ground rules established, the nanny and the work at home parent will need to talk about how to handle conflict/discipline as well as work on a schedule/routine that can be followed on a daily basis. How to handle conflict: When looking to hire a nanny, having a discussion…
Read MoreNannying & The Work-at-Home Parent
Many companies are now allowing their employees to work remotely, which means they can work from home rather than heading into the office for a traditional work day. Telework for a parent has many benefits, but it can also prove challenging if you’re looking for nanny services. Finding a nanny that can navigate the ins…
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…
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