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Family Caregivers and the “Nanny Tax”

The Nanny Tax for Family Caregivers If you hire a nanny or elder caregiver to care for your child or aging parent, you probably already know that the law generally considers this person your employee and you will need to withhold and pay the "Nanny Tax" for this person, which more specifically is social security and Medicare employment taxes. Caregivers are typically employees of the individuals for whom they provide services because they work in the homes of the family and the family has the right to tell the caregivers what needs to be done. Caring for Family Members [...]

By |2023-08-24T16:33:15+00:00April 20th, 2016|Hiring, NannyPay, Tax Reminders|0 Comments
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W-2 Household Employer Obligations

Nanny Taxes and W-2's IRS Directly Receives Some 21 Million W-2s This Year in Effort to Fight Tax Fraud Household employers should know they are obligated to file Forms W-2 and W-3 concerning wages paid to their nannies with the Social Security Administration, and not with the IRS. Nevertheless, some large payroll providers are participating in a pilot program by which some 21 million employees’ W-2s were provided this year directly to the IRS, in addition to the SSA, in an effort to assist the IRS in detecting tax fraud based upon refunds claimed on false individual income tax [...]

By |2023-08-24T16:44:56+00:00March 16th, 2016|Tax Reminders|0 Comments
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When the Nanny Leaves: Paid Time Off

Paid Time Off Reminder Employers are responsible to pay accrued vacation and sick time when a nanny leaves. Vacation pay, holiday and sick time, also known generally as Paid Time Off or PTO, is a common benefit provided by household employers to their nannies and other domestic help. It is important, however, to clarify in writing at the start of the employment relationship how much PTO a nanny gets, how and when it may be used and, most importantly, how PTO is accrued during the year (e.g., all at once or pro rata over the year). Although some states’ [...]

By |2023-08-25T12:47:55+00:00March 9th, 2016|Tax Reminders|0 Comments
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A Scheduling Nightmare Averted

Dealing with the Multiple Schedules of Family Life Let's face it we're all busy, in fact, most of us are too busy for our own good. When it comes down to it juggling not only a work schedule but family and individual child schedules it is not easy. It should come with a user manual or a how-to for working parents with kids in school and after-school activities and a nanny. Keeping an accurate, synced and organized calendar is something to shoot for and we want to help. So how do organized families keep it all straight? We turned [...]

By |2023-08-25T12:33:21+00:00February 25th, 2016|Tips|0 Comments
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Reminder: 2015 Forms W-2

Don't forget your W-2 Household employers were required to provide their employees a Form W-2 for wages paid to them in 2015 by February 1st.  If you haven’t already done this yet, you should so so immediately. Paper filers are reminded that Copy A of all your Forms W-2, along with a Form W-3,  by February 29th.  If you miss that deadline for some reason, you can file electronically by March 31st and still not be considered late. This will be the last tax year in which the IRS will offer this “electronic filing extension”.  President Obama recently signed [...]

By |2023-08-25T12:44:09+00:00February 25th, 2016|Tax Reminders|0 Comments
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Reminder to Update Your Tax Rates

Reminder to Update Your State Unemployment Tax Rates If you are using NannyPay to withhold employee unemployment insurance (UI) taxes, or to estimate your liability for employer contributions, be sure to update your rates in NannyPay for 2016. Because these rates vary by state and by employer, these are user-configured settings which you must update yourself to reflect any changes in rates for 2016.

By |2023-08-25T12:35:34+00:00December 28th, 2015|NannyPay Updates|0 Comments
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How to Give Your Nanny a Bonus

End of Year Bonus Time for your Nanny Holiday time is approaching and you may be considering offering your nanny or other household employee a cash bonus. You have two options (aside from just giving her the cash), either cut your employee a separate bonus check or include it with their regular payroll. Here's how to pay your bonus using NannyPay2 for each scenario. Scenario 1: You want to give your employee a separate bonus check Step 1: Make sure you are using the the most recent version of NannyPay2. If you are unsure, click "Check for Updates" under [...]

By |2023-08-25T12:33:48+00:00November 24th, 2015|Tips|0 Comments
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Is That Turkey Taxable?

Thinking of Providing a Gift to your Household Employee for Thanksgiving? Autumn table setting with pumpkins. Thanksgiving dinner and autumn decoration. If so, you are not alone. A recent survey of employers revealed that upwards of 26% of employers will provide some form of Thanksgiving gift this year to their employees, an historically high percentage. But is that gift taxable? In general, under IRS guidelines, if the value and frequency with which the gift or benefit is provided is so small as to make accounting for it unreasonable or impractical, it’s not taxable. [...]

By |2023-08-25T12:33:31+00:00November 18th, 2015|Tips|0 Comments
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DC UC Wage Base Increases for 2016

Unemployment Tax Wage Rising District of Columbia employers should note that the unemployment taxable wage base will be $9,000, effective December 1, 2016. Many other states are likewise raising their UC wage bases for tax year 2016. NannyPay customers should remember to change the UC settings in the software to reflect these changes before the first pay period in 2016 to insure their withholdings are correct.

By |2023-08-25T12:35:31+00:00November 11th, 2015|Tips|0 Comments
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FLSA Lawsuits Headed For Record High in 2015

FLSA Lawsuits Big Impact for Nannies A recent review of federal court filings as of August, 2015, demonstrates a substantial increase in the number of Fair Labor Standards Act (FLSA) civil filings compared to the same period last year. If the rate continues, it would be the largest number of FLSA civil cases since the fiscal crisis of 2008. Generally speaking, the FLSA requires employers of hourly wage earners, such as nannies, to pay overtime pay to those employees who work more than 40 hours in a week. Household employers who pay “under the table”, incorrectly classify their nannies [...]

By |2023-08-25T12:34:19+00:00November 8th, 2015|Tips|0 Comments
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