What about payroll taxes? Newborn Care Specialists & Temporary Nannies
Many newborn care specialists (NCS) and nannies work a series of short term assignments throughout the year. These can range from several days to several months, and this may be something that you’re used to doing on a regular basis. These types of situations can leave the NCS or nanny and their employer confused about... Read more »American Rescue Plan act of 2021 Tax Incentives for Household Employers & Employees
Never been a Better Time to Put Your Household Employees on Books The American Rescue Plan Act of 2021 was passed on March 11, 2021 and offers much-needed financial relief to employers and employees alike. This $1.9 billion bill is intended to address the financial impact of COVID-19 by offering unemployment benefits, expanding tax credits,... Read more »Answers to the Most Frequently Asked Questions About Your Annual Payroll Tax Filings
HomeWork Solutions, Inc., December 2023 PLEASE NOTE: All Form 1040 and Schedule H line numbers refer to the forms for the tax year 2023 in these annual payroll tax filings questions. How do I distribute Form W-2 to my employee?Complete and Essential Payroll Clients: Your Employee W-2 forms are available for distribution in your eFiling... Read more »Household Employees: Understanding the Rules
If you employ domestic workers like nannies, housekeepers, senior caregivers, private chefs or other in-home staff, it’s important to understand your responsibilities as a household employer and properly classify workers as household employees vs. independent contractors. Determining Employee vs Independent Contractor The Department of Labor recently updated its guidance on classifying workers, looking at factors… Read more »
Household Employment Laws by State
Nanny tax rules, household employee rules, wage and hour law, and payroll tax requirements are governed by a complex assortment of Federal and state rules and legislation. HomeWork Solutions has assembled easy to understand, state specific tip sheets to save you hours of online research! COVID-19 Update: Through 31 December 2020, the federal government requires… Read more »
Household Employment Laws by State
Nanny tax rules, household employment rules, wage and hour law, and payroll tax requirements are governed by a complex assortment of Federal, state, and local rules and legislation. HomeWork Solutions has assembled easy to understand, state specific tip sheets to save you hours of online research! Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District… Read more »
Household Employment: Schedule H vs. 941
Household employers file and pay the exact same employment taxes as commercial employers do. The IRS established the Form 1040 Schedule H in 1995 to simplify and streamline the household payroll tax reporting. Often times, however, the household employer or their CPA are confused about the proper reporting and begin filing quarterly form 941 for… Read more »
How Does the IRS Calculate Penalties and Interest?
Late payment of employment taxes will trigger penalties and interest charges to the taxpayer. The notices for an IRS late tax penalty are next to impossible to decipher. Statute of Limitations on IRS Interest and Penalty Calculations There is NO statute of limitations on the failure to file and report payroll taxes (Social Security, Medicare,… Read more »
HWS MemberPage FAQs
HomeWork Solutions, Inc., December 2023 PLEASE NOTE: All Form 1040 and Schedule H line numbers refer to the forms for the tax year 2023 in these annual payroll tax filings questions. How do I distribute the many copies of Form W-2?Complete and Essential Payroll Clients: Your Employee W-2 forms are available for distribution in your... Read more »Is the Basic nanny background screening enough to thoroughly check a nanny?
The Basic nanny background screening is a good starting point to screen a nanny. Included in the basic nanny background check is a Social Security Number (SSN) trace, which will reveal all names and addresses known to credit bureaus associated with the applicant's SSN. Most families find, however, that the history of the individual nanny applicant... Read more »
