How Much Does A Nanny Cost?
Determining a Legal, Fair, and Attractive Nanny Pay Package As a parent, finding the right nanny or babysitter to care for your children is a top priority. In addition to vetting and selecting the perfect caregiver for your children, you have to make an attractive offer to try and hire the nanny. Compensation for the... Read more »Nanny Tax Deductions for Household Employers
As a family with household employees like a nanny, private senior caregiver, housekeeper or other domestic workers, you may be eligible for several tax deductions related to their employment costs. Taking advantage of these nanny tax deductions for household employers can provide substantial tax savings. Dependent Care Account If your family has a Dependent Care… Read more »
The Ultimate Nanny Tax Checklist for Household Employers in 2024
Congratulations! You are a household employer. Here's your ultimate nanny tax checklist. As a household employer, staying compliant with nanny tax rules is crucial in 2024 and beyond. When you become a household employer you also have payroll tax and reporting obligations, the so-called nanny taxes. The family, and not the nanny, is ultimately responsible... Read more »Are you a household employer?
What Your Family Needs to Know... At HWS, we are experts on the tax and labor laws surrounding household employment, so you don't have to be. Let's first determine whether YOU are a household employer. Our knowledge center goes into much more depth on the details, here it is short and simple. Our lives are busy,... Read more »Is my nanny an “Independent Contractor?” Can I do that?
Is My Nanny an Independent Contractor? Is my nanny an independent contractor? Can I give my nanny or senior caregiver a 1099 and let her file her own taxes? Most Workers are Employees! The US Department of Labor's Administrator of the Wage and Hour Division, David Weil, clearly stated on July 15, 2015 that most... Read more »So what are the payroll taxes household employers pay?
Nanny taxes, what are they? First it is important to understand the so called “nanny taxes” are not just for nannies! The Nanny Tax is a catchy phrase for headline writers! However, these are really household employment taxes and apply when you hire a nanny, housekeeper, maid, senior caregiver or other domestic worker. Household employers... Read more »Why is my nanny an hourly employee? I want to pay her a salary and not worry about tracking hours each week.
Nannies and other ‘domestic service employees’ are classified under the Fair Labor Standards Act (FLSA) as non-exempt workers. The term non-exempt employee refers to a worker who IS subject to the terms of the FLSA regarding such issues as overtime compensation and minimum wage coverage, contemporaneous time tracking record keeping, as well as nanny pay… Read more »
About Household Employee Workers’ Compensation Insurance
Household employee workers’ compensation insurance protects the caregiver and the employer from the expenses and liabilities associated with a work-related accident. A single accident can leave the household employer liable for thousands of dollars in medical bills. Don’t assume that this liability is covered under your Homeowner’s Insurance Policy! Last updated June 28, 2024 Most… Read more »
Do I need to pay my housekeeper or nanny overtime? What about nanny minimum wage?
The simple answer is yes. Domestic employees specifically are covered by the Fair Labor Standards Act (FLSA) and have been since 1974. The FLSA establishes: The rules for workers who may be salaried (exempt) and who must be paid overtime (non-exempt). The rules for workers who must be paid no less than minimum wage. State… Read more »
What payroll taxes does my nanny (housekeeper, maid) pay?
Nanny payroll taxes, what are they? First it is important to understand the so called “nanny taxes” apply to ALL household employees, not just nannies. Your household employee (nanny, housekeeper, senior caregiver, etc.) contributes to or pays: Social Security & Medicare Taxes (via payroll deduction) Employee Disability/Unemployment Taxes where required. Federal/State Income Taxes The employer... Read more »
