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Understanding Household Employment
How to Create a W-2 for Your Nanny
It’s tax season! And one of the first steps for household employers is to provide Form W-2 to their workers. They will need this document to file their personal tax return. Here is how to prepare and create a Form W-2 for your nanny.
State-by-State Guide to 2024 Minimum Wage Rate Increases
Did you know that nearly half of U.S. states and dozen of cities and counties will boost their minimum wage rate at some point in 2024? Don’t get caught with a costly wage violation if your nanny’s pay rate slips below minimum wage.
IRS Announces 2024 Employee Benefit Plan Limits
The IRS recently announced the cost-of-living adjustments for employer-sponsored retirement and employee benefit plans for 2024.
Nanny Tax Threshold Increases for 2024
The Social Security Administration released its 2024 Employment Coverage Threshold for household employees. Next year’s coverage threshold increases by $100 to $2,700.
Household Employees Part of New Chicago Paid Sick Leave Ordinance
The Chicago Paid Leave and Paid Sick and Safe Leave Ordinance will expand paid time off for workers in the city, including household employees, to 10 days of paid leave. It’s considered one of the most generous policies in the country. Here’s how household employers will need to comply.
Household Employees: What Employers Need to Know
Hiring household employees comes with responsibilities and legal obligations. Understand the essential aspects of hiring household employees, employment taxes, and how to ensure a smooth and lawful employment relationship.
10 Nanny Tax Forms Every Household Employer Needs to Know About
Being a household employer comes with a fair share of paperwork. Getting set up as an employer, withholding and remitting nanny taxes, and taking care of year-end taxes all require forms to be filled out by you and/or your nanny. Here are the 10 nanny tax forms every household employer will need.
Paying a Nanny on the Books
Paying a nanny “on the books,” as opposed to “under the table” simply means you are doing things the right way and treating your nanny as a professional caregiver. You are paying them according to applicable tax, wage, and labor laws and withholding and remitting taxes appropriately. Here’s how.
How to Find the Best Nanny Payroll Service
With complex tax, wage, and labor laws, there is a lot that goes into paying your nanny. Rather than take on the stress and burden of paying your nanny legally, not to mention the time involved, many families sign up with a nanny payroll service. Here’s how to find the best nanny payroll services to make sure your nanny is paid legally and compliance is taken care of.
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