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Nanny vs. Daycare: What to Consider
Nanny or daycare? Here are some factors to consider in your decision-making process when choosing between a nanny and a daycare facility.
7 Steps to Take After Hiring a Nanny
There is plenty of advice out there about how to hire a nanny. But what do you do after you actually hire one? Here are some important steps you need to take to ensure a successful and professional relationship with your caregiver.
How to Pay Nanny Taxes Yourself
When you hire someone to work in your home, you become an employer. And with that designation comes employment tax responsibilities, which are commonly called “nanny taxes.” So how do you pay nanny taxes and make sure everything is correct? There are a few ways to tackle this including doing it yourself. If you’re ready to take this on, here are 7 steps to paying nanny taxes yourself.
Why Workers’ Compensation is Important for Household Employers
Obtaining worker’s compensation insurance may not be as obvious a “to do” for a family hiring a nanny or other household employee. However, a lack of coverage is a critical and costly mistake. Here’s why having a workers’ compensation policy is important for household employers.
How to Use a Dependent Care FSA When Paying a Nanny
Another advantage of paying your nanny legally? You can use a Dependent Care FSA – offered through your employer – to get tax-free reimbursements on a portion of your nanny’s wages. Here’s how they work when you’re paying a nanny.
What are the Benefits of Legally Paying Your Nanny?
The benefits of legally paying your nanny ensures fairness and protects both parties. It’s a win-win situation for both you and your nanny. You’ll gain peace of mind, reduce legal risks, and potentially qualify for tax breaks. Your nanny will benefit from financial security, social security contributions, and a professional working relationship.
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