NannyPay Blog

Nanny Tax Law Changes and Tips

Social Security and Medicare Taxes for Household Employees 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 [...]

By |2019-09-09T07:46:20+00:00April 18th, 2019|Nanny Tax|0 Comments

How to Get Forms and Publications

Household Employer Tax Forms 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 [...]

By |2019-09-09T07:37:02+00:00April 11th, 2019|Nanny Tax|0 Comments

Before you write that check, conduct a background check

Conducting a Background Check on your Nanny One of our biggest worries when it comes to our loved ones is keeping them safe.  It’s hard for little ones and some seniors to communicate exactly what is happening in the home when you are not there. Whether you are leaving your children alone with a nanny or hiring an elder caregiver to take care of an aging parent, you’ll want to know they are in good, trustworthy and capable hands. After extensive interviews and meetings with your potential nanny/caregiver, you find someone who you feel comfortable with and who seems like [...]

By |2019-08-16T08:53:20+00:00April 4th, 2019|Hiring|0 Comments

Don’t Go Under by Paying “Under the Table”

Is it Better to Pay your Nanny "Under the Table?" After several interviews you finally find the perfect nanny.  She gets along well with your children, has a flexible schedule that’s a match for your hectic one, and her references are glowing. One catch – when you discuss salary, she asks to be paid “under the table.” Here are a few reasons why you might be tempted to comply with her request and pay her “under the table”:   There would be no need to pay the ‘Nanny Tax’, allowing you to offer a higher salary. Your sought-after nanny may [...]

By |2019-08-16T08:48:00+00:00March 21st, 2019|NannyPay|0 Comments

Nanny Tax: Know The Facts

Understanding the Nanny Tax Tax season is here! In this article, you’ll find a quick checklist of things you need to know about 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, [...]

By |2019-08-16T08:38:59+00:00March 14th, 2019|Tax Reminders|0 Comments

How To Become a Paid Caregiver For a Family Member

Knowing your Rights as a Paid Caregiver to Family Caregiving has always been considered a fulfilling task, especially when it comes to caring for your family. However, it can be financially stressful because it can take up your time and energy, which you could have used in financially productive activities. If you are a caregiver for a family member, you should know the various financial assistance possibilities available to you. These can come from the government, private organizations, social enterprises, or even your family. Seek aid from a government-funded program The US government sponsors several statewide and nationwide programs that [...]

By |2019-08-16T08:08:50+00:00March 7th, 2019|Tips|0 Comments

Hiring a Caregiver For Your Aging Parents

Securing Home Caregivers for Parents Your parents were there to take care of you as your grew up, but now the roles have reversed and they need you to care for them. While many seniors are mentally and physically capable of caring for themselves, others might suffer from issues that may limit their mobility or their ability to live on their own. As much as you'd like to tend to their every need, it's often impossible to do so, especially if you work full-time or have a family of your own to take care of. In these cases, having a [...]

By |2019-08-16T08:01:17+00:00February 21st, 2019|Hiring|0 Comments

Avoiding Household Employee Injury

Household Safety Tips for your Nanny A healthy and safe workplace is probably the most important factor contributing to a satisfying work environment.   When it comes to hiring a nanny or other domestic worker, such as an elder caregiver, a healthy workplace is of utmost importance. There are numerous local, state, and federal laws governing a safe and healthy workplace environment, but as a household employer, you can take some additional steps to ensure your workers safety. Here are a few things you can keep in mind to be better prepared in order to avoid a household employee injury: Most [...]

By |2019-08-15T08:48:31+00:00February 14th, 2019|Tips|0 Comments

Do Nannies Get Snow Days (or other foul weather days)?

Dealing with Snow Days and your Nanny Well not in LA or Phoenix! When commuting to work becomes potentially unsafe due to a blizzard or a heavy snow day, a traditional worker could take a paid or unpaid day off, or in some cases, even choose to work from home. Nannies don’t have that luxury. They cannot work from home for obvious reasons and they may not want to take unpaid leave. Also, they may be expected to do everything possible to get to their workplace on a foul weather day so that you (the employer) can get to work. [...]

By |2019-08-15T08:36:47+00:00February 7th, 2019|Tips|0 Comments

Tax Time: What You Need to Know About Nanny Taxes

The Nanny Tax and What you Should Know If you employ a nanny, eldercare giver, private nurse or other household employee, 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 by [...]

By |2019-08-15T08:29:55+00:00January 21st, 2019|Tax Reminders|0 Comments
Load More Posts