4 Big Reasons Why You Should File Schedule H and Not Form 941
To reduce accounting issues, the risk of penalties and dual reporting, household employers should avoid filing Form 941 and use Schedule H instead.
To reduce accounting issues, the risk of penalties and dual reporting, household employers should avoid filing Form 941 and use Schedule H instead.
Effective July 1, 2018, the minimum wage will increase in a number of states and localities. Domestic workers like nannies must be paid at least the highest hourly minimum wage of federal, state, and local rates.
The short answer is “no.” You can’t pay your nanny a pre-set, flat-salaried amount for all hours worked in a week. You could pay her for guaranteed hours, which is different from a nanny salary. Here’s why.
Hiring a summer nanny means you have an employee and will need to follow applicable tax, wage, and labor laws even if it’s just temporary work.
As a family that has hired a nanny, in-home senior caregiver, or other household employees, you are now considered an employer and should follow guidelines for retaining employment, tax, and payroll records.
If your employee lives and works in different states, they may not be required to file taxes in both. Certain state have what is called a reciprocal agreement.