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.
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.
Summer may be the time of year to sit back, relax and recharge. Unless of course, you have kids. When school begins again, you could be exhausted. Where did the summer go? And what happened to relaxation? This is where a summer nanny can make your life easier and the season more fun for your kids.
Guaranteed hours for a nanny, an industry standard in household employment, are the set number of hours your caregiver will be paid each week. Here’s how guaranteed hours work and why they benefit not only your nanny but your family as well.
The awesome nanny you plan to hire wants to be paid off the books. You know the risks but do you take a chance and go along with your nanny? Nannies, however, often don’t see the bigger picture when it comes to being paid legally and what benefits (both immediate and long-term) they may be missing. Here’s what to say to get them on board with legal pay.
Calculating nanny taxes is an important step when hiring an in-home caregiver for your children. It’ll help you understand your total budget for childcare beyond just the wages you’ll pay your nanny. Here’s what you need to know.
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