Finding a nanny is one of the most significant (and maybe toughest) decisions you will make as a parent of young children. The hiring process can be stressful and, at the same time, exciting. While it’s important to know where to find nannies for your job, focusing on “the how” will help you hire the ideal caregiver for your children.
Employing a senior caregiver for an elderly loved one could mean you’re now in charge. There is more work involved for you but you now have more control of their hiring and employment.
For a few reasons, like qualifying for a health insurance subsidy or taking home more money, a nanny may want to be paid half on and half off the books. This may seem like a reasonable compromise especially if you like the caregiver. Plus, you save on taxes too. Everyone is happy. Right? Here are four key reasons why this is a bad idea even if well-intentioned.
As with any other household employment, taxes in a nanny share arrangement will be owed by the families and the caregiver. We’ll answer 5 key questions to give you everything you need to know about how to pay taxes when forming a nanny share.
Not correctly paying a nanny for overtime hours – or ignoring OT hours altogether – is a common way families violate wage laws. Here is everything you need to know to pay your nanny overtime the right way.
One of the most common questions (and misunderstandings) surrounding household employment is whether a family can provide their nanny a 1099 at tax time and consider them an independent contractor rather than a household employee. The short answer is “no.” Here’s why and answers to other questions you may have.
Get your free: Complete Guide to Household Payroll
Download our free guide and find out everything you need to know about paying your employee legally and filing your taxes.
.
800-929-9213