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So far Nanny Pay has created 102 blog entries.

June Just Got Tastier

National Veggie Day It’s time to eat up! June 17th is National Eat Your Veggies day. What’s a summer BBQ without corn on the cob, a side of potato salad, freshly roasted asparagus and a slice of juicy watermelon? Rich in vitamins, minerals and nutrients, research has shown that people who consume fruits and veggies as part of their daily diet are likely to have a reduced risk of some chronic diseases such as heart disease, and are more likely to be protected against certain types of cancers. Fruits and veggies are naturally low in calories, many are high in [...]

By |2019-08-20T07:22:12+00:00June 13th, 2019|Cooking|0 Comments

Does the Summer have you feeling Sandwiched and Stressed?

Caring for Children and Aging Parents Taking care of the little ones can be stressful enough, but adding an aging parent to the mix can be downright exhausting.  Your aging parent may have medical needs such as Alzheimer’s disease or physical limitations, which can add another level of stress.  It certainly does not get any easier when the kids are home for summer break and everyone’s routine is a little off. The Sandwich Generation People taking care of both their children and their parents make up what is known as “the sandwich generation.”  According to The Pew Research Center, the [...]

By |2019-08-20T07:08:33+00:00June 6th, 2019|Caregivers|0 Comments

Don’t Most People Just Pay “Under the Table” Anyway?

Why You Shouldn't Pay Your Nanny "Under the Table"? Although household employment tax laws certainly add an additional expense to your childcare budget, you really can’t afford not to comply with the law. Although some nannies may even ask to be paid “under the table”, a family that agrees to such an arrangement is taking significant legal and financial risks. In the event of an audit, you, as the household employer, will be ultimately responsible for all FICA and other employment taxes that are owed to the government on your nanny’s wages, even if you did not withhold the nanny’s [...]

By |2019-08-19T15:31:26+00:00May 30th, 2019|Nanny Tax|0 Comments

I’m a New Employer – I Don’t Even Know Where To Start?

NannyPay Has Been Helping Families For Almost Two Decades If you are a first-time household employer, you've probably already learned that finding the "right" nanny or other household employee is a difficult task. Although finding a trustworthy, competent household employee is your first priority, families who choose to hire their own household help will also need to understand the "nanny tax" laws, Social Security rules, and immigration regulations. Are the NannyTax laws complicated? The surprising answer, is "No, not really". In our experience, most people who take the half hour or so to read the NannyPay Employer's Guide, and maybe [...]

By |2019-08-19T15:22:17+00:00May 23rd, 2019|Nanny Tax|0 Comments

IRS Recordkeeping

Keeping Record of your Household Employees As a Household Employer, you must keep all your records on your household employee's income and employment taxes, including Social Security, Medicare, federal unemployment taxes, federal income tax withholding, and advance payment of earned income credit, for at least 4 years after the due date of the return or after the tax is paid, whichever is later. Information you Should Maintain as a Household Employer Your employer identification number; (EIN) Copies of returns you have filed; Dates and amounts of any deposits or payments you made; Each household employee's name, address, and Social Security [...]

By |2019-08-20T07:00:11+00:00May 16th, 2019|Nanny Tax|0 Comments

Searching for Your Summer Nanny

Finding a Nanny for the Summer After what seemed like a never-ending winter, summer may have completely snuck up on you! School’s out, camps are filled, and you haven’t yet secured someone to watch the kids.  No need to worry – there’s still time to find a great nanny! Tips on Catching the Perfect Summer Nanny or Babysitter for your Family Referrals. Personal recommendations are always a great option. Since the people you are asking know your family, they can help make a great match. Talk to your neighbors, local family and friends to see who they’ve used and liked. [...]

By |2019-08-20T06:47:04+00:00May 9th, 2019|Tax Reminders|0 Comments

Thinking Outside the Screen

Guidelines for Screen Time School’s out for summer!  Your children may be excited to toss the backpacks, forget about the homework, and park themselves in front of their screens.  But you might not want them to get too comfortable. Last month the World Health Organization came out with new guidelines surrounding screen time, recommending no more than an hour for those under the age of five. While every home has its own rules regarding screen time, it’s important to fill your nanny in on yours. Let her know the limits that have been set, what your children need to do [...]

By |2019-08-20T06:37:01+00:00May 2nd, 2019|For Kids|0 Comments

Nanny Tax Laws: A Brief History

Until 1994, if you paid a nanny, babysitter, a gardener, or any other household employee more than $50 in any calendar quarter, you were obligated to withhold FICA contributions from that person's wages and to remit those taxes, together with your share of FICA tax, to the IRS. You were required to do this every three months on a quarterly basis using IRS Form 942, the Household Employer's equivalent of the business employer's Form 941. At the end of the year, you were required to file a final Form 942 as well as a separate FUTA return if applicable. Because [...]

By |2019-08-19T16:29:53+00:00April 25th, 2019|Nanny Tax|0 Comments

Nanny Tax Law Changes and Tips

The Income Test for Social Security and Medicare Taxes Remains at $2,100 for 2019. You do not have to withhold or report Social Security or Medicare taxes for household employees that you pay less than $2,100 this year. The FUTA annual threshold remains the same at $1,000. "Babysitter Exception" Caregivers to whom you pay $1,900 or more, but who are age 17 or younger, are not considered household employees for whom you must withhold and pay FICA taxes unless providing household services is that person's principal occupation. If the caregiver is a student, providing household services is not considered to [...]

By |2019-08-19T17:57:46+00:00April 18th, 2019|Nanny Tax|0 Comments

How to Get Forms and Publications

The following is a listing of IRS Publications, Forms and Notices that contain information you may need as a Household Employer: Publications 15 (Circular E) Employer's Tax Guide 505 Tax withholding and Estimated Tax 926 Household Employers Tax Guide Forms (and Instructions) SS-4 Application for Employer Identification Number SS-5 Application for a Social Security Card W-2 Wage and Tax Statement W-3 Transmittal of Income and Tax Statements W-4 Employee's Withholding Allowance Certificate W-10 Dependent Care Provider's Identification and Certification 2441 Child and Dependent Care Expenses Schedules Schedule H Household Employment Taxes Notices 1036 Early Release of Withholding Tables and Rates [...]

By |2019-08-19T14:44:29+00:00April 11th, 2019|Nanny Tax|0 Comments
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