The Benefits For Nannies When it Comes to Paying Nanny Taxes

Today, more and more families with nannies arethe nanny salary for up to six months if the nanny
making the decision to pay their nanny the legal way.loses the job for no fault of her own. The nanny will
This means filing the appropriate paperwork toalso be working towards Social Security and Medicare
properly pay and withhold taxes, making the nanny abenefits, something every hardworking employee
legal employee in the eyes of the law. While manyshould be entitled to.
families are attempting to help the nanny, they may beAdditionally, the nanny will likely appreciate having a
surprised when they are met with some resistance bylegitimate employment status and history when it
potential nanny employees. Many, especially those whocomes to other aspects of life and finance. Taking out
have worked as a nanny in the past, may alreadya loan, applying for a credit card, filling for health
have years of experience working 'under the table,' asinsurance, or applying for future jobs are all tasks
an illegally paid employee. The nanny may not fullygreatly complicated or rendered impossible without
understand why the family is concerned aboutlegal employment status. It is important from the very
complying with a tax law that is broken more oftenbeginning to estimate the amount of taxes nanny
than not, and may worry this will mean big cuts in thecandidates will be paying, and demonstrate how the
nanny salary each year. In order to make the situationfamily will be compensating for the loss in the salary
comfortable for everybody, it is important toearned. This way, nobody feels cheated, and the
understand the benefits for the nanny that can benanny will not be incentivized to continue looking for an
gained by legal taxation. Start right from the firstillegally paid job where the short term financial rewards
meetings as you interview nanny candidates, explainingare higher.
the benefits of paying the "Nanny Tax."Finally, it is important that any new nanny understand,
It is important for any new nanny to understand thatright from the first interview nanny candidates have
under federal law, she is considered a "householdwith the family, that the issue of legality is important to
employee," and as such Social Security and Medicarethe family. Any nanny worth hiring to care for your
should be withheld and paid should she be makingchildren should make the wants and needs of the
more than the benchmark amount. Depending on thefamily a top priority. By respecting your wishes right
nanny salary, it may also be necessary for thefrom the beginning and complying with legal taxes
employer to pay federal unemployment taxes. Explainnanny household employees can prove ambition and
that these things benefit the nanny, since the nanny willloyalty. Besides the benefits for the nanny the top
be eligible for such benefits just like any otherbenefit is that everyone can breathe easy knowing
employee in the country. The nanny will havethey have complied with the law.
unemployment insurance, thereby protecting part of