There is LOTS of conflicting information out there at the moment regarding the way that nanny health insurance can be handled with the changes brought by the Affordable Care Act. We are keeping in close contact with Breedlove & Associates to figure out how to advise our clients and nannies. Unfortunately, as of today we are in limbo on how the new Affordable Care Act will affect the way families have been handling helping their nanny with health insurance. Read more »
We often hear complaints from nannies or families about banking hours. Usually we hear from the nanny or family after the hours have been banked and the phone call is never a positive one. Breedlove & Associates tackles this topic in their most recent Legal Review.
The Lawson family wanted to take an impromptu vacation after Mr. Lawson received a promotion. The family scrambled plans together and organized a five day reprieve from work and responsibility. The best part of the trip for Mr. and Mrs. Lawson would be the opportunity to take their first vacation with their two-year-old son who was usually supervised during the day by the family’s nanny. Read more »
As we discussed in Part 1 of this series, being paid legally and knowing the basics of the tax law, are an important part of being treated as a professional. In this section we are going to show you some real world examples of why being paid professionally pays off! Read more »
As a childcare professional, you have one of the most important and noble jobs in the world – to nurture, protect, educate, guide and inspire children. You should view yourself – and demand to be treated – as a professional. In part, this means making sure that your compensation is handled accurately, fairly and legally. Read more »
The nanny/household employee industry has been historically notorious for misclassifying their employees (i.e. paying them off the books). The IRS is giving families a chance to come clean and fix the problem by June 30, 2013. Experts estimate that the tax shortfall for families not reporting/paying is $3-$10 billion per YEAR! The IRS have been cracking down on the household employee industry in recent years, and many believe this is a warning that they will be targeting it even more.
For more information:
THE FLEXIBLE SPENDING ACCOUNT WINDOW
A couple gave birth to a baby boy on July 3, 2011. In mid-July, they began searching for a nanny so the mom could go back to work after Labor Day. With about 2 weeks to spare, they found the perfect nanny.
When the mom went back to work, she learned that they had missed out on a major tax break. Read more »
Unreported Temporary Care: An Honest Mistake
With nanny taxes embarrassing politicians left and right these days, many American families want to know what they can do to avoid a similar fate. This edition of The Legal Review will discuss a common error made by families when hiring temporary care. Read more »