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. […]
READ MOREWhat Can Families Learn from this Household Employment Survey?
By A New England Nanny 27 0GTM Payroll Services recently conducted a survey of household employers and nannies, covering a wide range of topics, including legal pay, benefits, personal preferences, online job sites, and more. We are sharing the results of their household employment survey to help families hire and retain the best nannies and other household employees. From GTM.com: Nannies […]
READ MORENo Change to Nanny Tax Threshold for 2019
By A New England Nanny 42 0The Social Security Administration recently released its nanny tax threshold for 2019, and the Social Security and Medicare tax threshold is not increasing. It will remain at $2,100, which was a $100 increase in 2018 from the 2016 rate (it was unchanged in 2017). Nanny taxes must be paid by the family and the employee, such […]
READ MOREDomestic Employment Laws in New York State
By A New England Nanny 37 0When it comes to paying household employees, A New England Nanny recognizes that nannies, housekeepers, senior care workers, etc. are professionals who should be compensated legally by employers with the appropriate taxes and benefits in mind. When it comes to paying domestic workers, there are many nuances and details to know about domestic employment laws in New […]
READ MOREDo You Need to Pay Taxes for a Summer Nanny?
By A New England Nanny 32 0School will be out soon, and if you’re going to be hiring a nanny to care for the kids during the summer, you might think that since it’s only a temporary job, you don’t need to worry about payroll taxes or even insurance. But those requirements may apply even if you’re only hiring for the […]
READ MOREPayroll and Tax FAQs from Nannies
By A New England Nanny 25 0As a nanny or other domestic worker, you may have questions about your employment status and tax obligations. Even if it’s just a temporary placement, it’s important to understanding your (and your employer’s) responsibilities at the beginning of employment. Here are some payroll and tax FAQs from household employees. Am I an employee or an […]
READ MOREHow Much Should I Pay My Nanny?
By A New England Nanny 23 0One of the most frequent questions we get asked from our families who are hiring a long-term nanny is how much they should pay them. How much to pay a nanny is something to figure out early in the process, not after you decide to hire someone. This way there are no surprises for either side. […]
READ MOREHow Nannies Benefit from Being Paid Legally
By A New England Nanny 28 0Families benefit from legally paying their nannies or other domestic workers by staying compliant with the law and being able to take advantage of tax breaks. But a nanny benefits as well from being paid legally even though they may see a little less in their paychecks. If you’re hiring or looking to transition a current […]
READ MORENanny Tax Planning for 2018
By A New England Nanny 32 0Hard to believe 2018 is less than two weeks away! Now is a good time to ensure that everything is in order so there are no surprises when it comes time to pay your nanny taxes next year. Don’t put off or ignore your 2017 year-end tax planning; look at your finances and think about […]
READ MOREProposed Regulations to Help Prevent Identity Theft
By A New England Nanny 37 0Fresh off the recent Equifax breach , the IRS has proposed regulations that may help individuals prevent identity theft when it comes to their W-2s. The proposal would allow truncated Social Security numbers (SSNs) on Form W-2 in the form of Taxpayer Identification Numbers (TTINs), which would hide full SSNs from identity thieves. Employers would be permitted […]
READ MORE