Tag: nanny taxes

Parents & Nannies! How To Save Money On Your 2022 Taxes + Changes for 2023

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Tax Day is today! Before you sit down with the dreaded Form 1040, make sure to watch my latest video!

For this week’s video, I sat down with Tom Breedlove from Homepay to discuss all things tax related. Homepay is one of the most popular nanny payroll companies in the United States.

We cover how to save money on your 2022 taxes as well as changes you need to be aware of if you are a nanny or a family working with a nanny in 2023.

I learned of several new tax breaks while producing this video that is going to save my family some money. I hope you do too!

Click the button below to watch the video.

Click Here To Watch!

save money on your 2022 taxes

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Watch This Before Filing Your Taxes! Nanny Tax Breaks (2021 and 2022)

Posted on by Admin Team

 

Hi everyone!

With the federal tax filing deadline just a few days away, don’t miss out on these money-saving tax breaks if you worked with a nanny in 2021 or are currently with a nanny in 2022!

In today’s video, “Watch This Before Filing Your Taxes! Nanny Tax Breaks (2021 and 2022)”, I sit down with Tom Breedlove, Senior Director of Homepay to discuss how your family can save money on your 2021 taxes and what changes might affect you for the 2022 tax year.

We discuss:

– Child Tax Credit

– Child Care Tax Credit

– Build Back Better Act

– Dependent Care Flexible Spending Account (FSA)

– Who qualifies for these tax breaks

Did you know you can get a tax break if your kids attend summer camp (i.e. sports, Lego, Minecraft camps)? I didn’t and this video helped my family save money on our 2021 taxes!

I learned about several new tax breaks while producing this video and hope that you do too.

If you would like to talk to the HomePay team or sign up for their highly rated payroll services, click here. Sign up today and your first month is FREE!

Nannies – the HomePay team can answer any questions that you have as well.

Click Here To Watch!

nanny tax breaks

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New Payroll Tax That WILL Affect You! November 1, 2021 Deadline 📆

Posted on by Admin Team

Hi everyone!

There is a new payroll tax that I want to make you aware of. This tax will affect both nannies and parents.

Nannies – if you work in Washington state, you will be responsible for paying this new tax starting January 1, 2022… BUT you must take action by November 1, 2021.

Parents – while you are not responsible for paying this tax, you do need to collect and remit the tax to the Employment Security Department.

In this video, I interview Tom Breedlove – Senior Director of HomePay about the new Washington Cares Act. HomePay is the nation’s leading payroll company. They are amazing to work with and I recommend them to all of our members!

The Washington Cares Act payroll tax will provide employees with up to $36,500 in long term care benefits.

We cover what the Washington Cares Act is, what is does, how to navigate it, and how it affects employees (nannies) and employers (parents).

Parents – if you would like HomePay to handle paying your nanny and taking care of all of the forms, taxes, deadlines, etc. (including this new payroll tax), please click here.

Learn more about the Washington Cares Act by clicking here.

Scroll down to check out the video and I hope you find it useful!

payroll tax

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Video Blog: How Much Does Nanny Care TRULY Cost? 💰

Posted on by Admin Team

 

Hi everyone!

It’s Laura back with my next video…which should be SUPER helpful for families starting to think about nanny care or for those considering switching from a temporary/short term nanny to a full time nanny.

Too often, families only focus on the hourly wage when thinking about a budget for a nanny. In this video, I breakdown every expense that is associated with hiring and employing a nanny in an easy to read spreadsheet.

Click on the video below where I will walk you through:

  • The costs to search for a nanny
  • All details of what nannies expect in a “compensation package”

Scroll down and click on the video to check it out!

Continue reading “Video Blog: How Much Does Nanny Care TRULY Cost? 💰” →

Video Blog: Top 10 Questions Answered About Working With A Nanny: Part 2 🤨

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Happy Friday!

We just dropped Part 2 of my latest video “Top 10 Questions Answered About Working With A Nanny”. This should be super helpful for families thinking about hiring a nanny this summer or when school starts in the fall.

Click here to check out Part 1.

Every month my team and I speak with dozens of parents that are thinking about working with a nanny (last month alone, we spoke with almost 200 parents!). We’ve been compiling a list of their questions and today, we released the second part of of our series, “Top 10 Questions Answered About Working With A Nanny”.

Some of the questions that we answer in this video are:

How do I pay my nanny? Over the table? Or under the table in cash?

What are nanny taxes?

What are the most common job responsibilities for a nanny?

Can I ask my nanny to do household chores?

What standard benefits should I offer a nanny?

Scroll down and click on the video to check out the second part of “Top 10 Questions Answered About Working With A Nanny”

Continue reading “Video Blog: Top 10 Questions Answered About Working With A Nanny: Part 2 🤨” →

Hiring A Nanny Payroll Company vs. Handling Payroll Yourself

Posted on by Admin Team

 

So you found the right nanny, verified their background check is clear and they have accepted your offer. Congratulations! You’re almost done!

While it may seem that the hard work is behind you, there is one more important decision for you and your family to make: do you hire a nanny payroll company to take care of paying your nanny or do you handle payroll yourself?

nanny payroll company

This critical decision can be the difference between hours of frustration and scrambling or a turn key solution which only requires a few minutes of your time each month.

First, let’s get this out of the way…

Continue reading “Hiring A Nanny Payroll Company vs. Handling Payroll Yourself” →