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.
Don’t be fooled! You may need to pay nanny taxes when hiring a senior caregiver. If you’re considered their employer, you’ll need to comply with applicable tax, wage, and labor laws.
This comprehensive guide provides critical guidance to the millions of families that care for a senior parent, relative or friend. However, many of these families also care for their own children while juggling careers and other responsibilities.
By 2020, 54 million people in the U.S. will be over the age of 65; by 2040, that number will top 82 million. We can see the growing demand for senior care is critical in our lives and so it will continue.
Knowing and calculating the difference between gross and net pay is critical when negotiating your nanny’s pay rate. Watch a brief demonstration on how to figure out the right way to agree on a household employee’s wages.