Category: Payroll & Taxes

How the American Families Plan Could Impact Your Family

By A New England Nanny 4 0

In a recent speech, President Joe Biden announced the American Families Plan, which is a proposed $1.8 trillion legislative package. The proposed bill includes an investment of around $1 trillion in families, education, and workers. The bill also includes around $800 billion in enhanced tax credits that would extend the benefits included in the recently […]

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How Families Save Money By Paying Nannies Legally

By A New England Nanny 9 0

One of the most important reasons to pay your nanny “on the books” is to avoid the massive fines and penalties that can be assessed if you’re caught. But did you know that families save money by paying nannies legally, especially in 2021? Our payroll partner GTM Payroll Services shows you how legal pay may […]

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Here are the 2021 Minimum Wage Changes for New York

By A New England Nanny 61 0

Household employers need to be aware of changes to employment laws to ensure compliance and avoid penalties and fines. Household employees, such as nannies, housekeepers, and senior care companions, must be paid at least the state minimum wage, which varies by location within New York state. With that in mind, here are the 2021 minimum wage […]

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What is the Nanny Tax Threshold Increase for 2021?

By A New England Nanny 28 0

Many families that employ a nanny choose to pay them “off the books,” or they simply may not be aware that once a nanny’s wages reach a certain level, employment taxes are required to be paid. Our payroll partners at GTM Payroll Services provide a look at the nanny tax threshold increase for 2021. The […]

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Tax Benefits From CARES Act Student Loan Assistance

By A New England Nanny 57 0

Many nannies are students, and many of them have student loans that can be burdensome at any time, but particularly during COVID-19 when regular income is an issue. Among other measures aimed at easing student loan burdens during the coronavirus pandemic, the CARES Act student loan assistance provision temporarily allows employers to make tax-free payments […]

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Minimum Wage Changes in 2020 for New York

By A New England Nanny 56 0

Each year, new and amended laws impact employers in New York – including household employers – who need to stay on top of these changes to ensure they are compliant and aren’t subjected to penalties and fines. With that in mind, the minimum wage changes in 2020 for New York employers. Nannies, housekeepers, senior care companions, […]

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Dependent Care FSAs Save You Money When Paying a Nanny

By A New England Nanny 56 0

There are numerous reasons to pay a nanny “on the books” – you’ll recruit better candidates and keep them longer, you’ll avoid hefty fines and penalties for not paying employment taxes, and, notably, you can save money through a Dependent Care FSA (Flexible Spending Account). Our payroll partner GTM Payroll Services offers this guide to […]

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Nanny Tax Threshold Increasing for 2020

By A New England Nanny 42 0

How does a family know whether or not they are legally obligated to pay employment taxes for their nanny or other household employee? The most telling factor is commonly referred to as the “nanny tax threshold.” This is the wage earnings amount by which the government determines if an employer must follow tax filing regulations. […]

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