Tax Reminders

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 [...]

Understanding the Nanny Tax Tax season is here! In this article, you’ll find a quick checklist of things you need to know about filing your nanny taxes the right way. First, let’s be frank.  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 long run, if you fail to pay your nanny legally, and get caught, [...]

The Nanny Tax and What You Should Know If you employ a nanny, eldercare giver, private nurse, or other household employees, you likely are required to pay the so-called “Nanny Tax”.  According to the IRS, if you employ someone to do work in or around your home, he or she will be regarded as your household employee if you (the employer) control: The type of work the person performs, and How that person performs his job (the daily instructions you give) If the worker is your employee, and you pay them over a specific wage amount, you are required [...]