<\/p>\n
<p><strong>Please include attribution to http:\/\/www.homeworksolutions.com with this graphic.<\/strong><br \/><br \/><a href=’http:\/\/info.homeworksolutions.com\/blog\/millennial-childcare’><img src=’http:\/\/cdn2.hubspot.net\/hubfs\/54123\/1601_ig_home-work-solutions_millennial-guide-to-childcarev2.jpg’ alt=’Your Millennial Guide to Childcare [INFOGRAPHIC]’ width=” border=’0′ \/><\/a><\/p><\/textarea> <\/p>\n<p><strong><span>Millennials, as a whole, are starting to have children, and since raising a child can be expensive, many Millennials choose to work and use childcare services for help. If you\u2019re a Millennial and you\u2019re interested in learning more about childcare services, then check out some of our thoughts below.<\/span><\/strong><\/p>\n<p> <!--more--> <\/p>\n<p><strong>Millennials in the U.S.<\/strong><strong><br \/><\/strong><\/p>\n<ul>\n<li><span>As of 2015, Millennials make of \u00bc of the nation\u2019s population.<\/span><\/li>\n<li><span>The oldest Millennials were 27 years old when the recession hit in 2007<\/span><\/li>\n<li><span>Millennials make up 1\/3 of the U.S. labor force.<\/span><\/li>\n<li><span>36% of millennial women have had children<\/span><\/li>\n<li><span>For 18-34 year olds, homeownership rate is 13.2%.<\/span><\/li>\n<\/ul>\n<p><strong>Children of Millennials<\/strong><strong><br \/><\/strong><\/p>\n<ul>\n<li><span>10.8 million Millennial households have children.<\/span><\/li>\n<li><span>Millennials account for 80% of the U.S.\u2019s 4 million yearly births.<\/span><\/li>\n<li><span>Labor force participation amongst Millennial women with children: 61%.<\/span><\/li>\n<li><span>In order to keep achieving their career goals<\/span><\/li>\n<ul>\n<li><span>69% of Millennials are willing to travel for work<\/span><\/li>\n<li><span>68% are fine with relocating<\/span><\/li>\n<li><strong>54% are willing to hire a nanny or provide their children with childcare.<\/strong><\/li>\n<\/ul>\n<li><span>26% of Millennials increased the amount of time they spend at work after their children were born. <\/span><\/li>\n<ul>\n<li><span>Only 13% of Generation X parents did the same.<\/span><\/li>\n<\/ul>\n<li><span>The cost for a middle-income two-parent family to raise a child born in 2012 until he or she is 18 is estimated to be $241,080.<\/span><span><br \/><\/span><\/li>\n<\/ul>\n<p><strong>How to Find a Nanny<\/strong><\/p>\n<p><span>Due to high childcare costs, Millennials are likely to keep working after they have children. Here are the basics on how to find the right nanny for your child:<\/span><\/p>\n<p><strong>When Hiring a Nanny:<\/strong><\/p>\n<ol>\n<li><span>Outline what you\u2019re looking for: <\/span><\/li>\n<ol>\n<li><span>How many hours a week do you need a nanny for? <\/span><\/li>\n<li><span>What do you expect the nanny to do?<\/span><\/li>\n<li><span>What is your budget?<\/span><\/li>\n<\/ol>\n<li><span>Consider the use of a referral source<\/span><\/li>\n<ol>\n<li><span>Nanny Agency<\/span><\/li>\n<ol>\n<li><span>Most expensive option, but everything is taken care of (background checks etc) <\/span><\/li>\n<\/ol>\n<li><span>Online marketplace<\/span><\/li>\n<li><span>Ask for recommendations from people you trust<\/span><\/li>\n<\/ol>\n<\/ol>\n<p><span>3. Give yourself at least a month to three months to find a suitable nanny.<\/span><\/p>\n<p><span>4. When interviewing nanny candidates: <\/span><\/p>\n<ol>\n<li><span>Ask detailed questions about their prior experiences, disciplinary techniques, and how they plan to entertain and interact with your children.<\/span><\/li>\n<\/ol>\n<p><span>5. Remember to perform a background check and to also contact their references. <\/span> <\/p>\n<p><strong>How Do I Pay my Nanny?<\/strong><em><span><br \/><\/span><\/em><span><br \/><\/span><span>When you hire a nanny, it\u2019s important to remember that you will most likely have to file <\/span><strong>domestic taxes.<\/strong><\/p>\n<ul>\n<li><span>Domestic taxes or \u201cnanny taxes\u201d are also referred to as employment taxes for household employees.<\/span><\/li>\n<\/ul>\n<ul>\n<li><span>Hiring a housekeeper, maid, babysitter, driver, or gardener counts as hiring a \u201chousehold employee.\u201d<\/span><\/li>\n<\/ul>\n<ul>\n<li><span>If you paid wages to a household employee of $2,000 or more for 2016, you will be responsible for paying both state and federal payroll taxes.<\/span><\/li>\n<\/ul>\n<ul>\n<ul>\n<li><span>You have to pay Social Security, Medicare and Federal\/State Unemployment taxes.<\/span><\/li>\n<\/ul>\n<\/ul>\n<ul>\n<li><span>Failing to pay your taxes can result in steep fines and penalties.<\/span><\/li>\n<\/ul>\n<ul>\n<li><span>Paying your taxes provides numerous benefits to the caregiver<\/span><\/li>\n<li><span>Paying your taxes also protects you and your family<\/span><span><br \/><\/span><\/li>\n<li><span>Paying someone in cash doesn\u2019t preclude you from having to pay taxes.<\/span><\/li>\n<li><strong>Vital:<\/strong><span> When hiring a household employer, make sure to have them sign an I-9, and keep records of their employment and payments.<\/span><\/li>\n<\/ul>\n<p><strong>Are There Child Care Tax Credits?<\/strong><em><span><br \/><\/span><\/em><\/p>\n<ul>\n<li><span>The <\/span><strong>Dependent Care FSA<\/strong><span> allows a person to use pretax dollars in order to pay for certain childcare expenses. <\/span><\/li>\n<ul>\n<li><span>Eligible expenses include housekeeper or nanny payments, daycare fees or other childcare related services. <\/span><\/li>\n<li><span>In order to qualify, your children must be under the age of 13. <\/span><\/li>\n<li><span>All eligible expenses must be tracked\u2014which means paying your household employee legally, including remittance of all taxes to appropriate agencies\u2014since a claim has to be filed for each expense.<\/span><\/li>\n<\/ul>\n<\/ul>\n<ul>\n<li><span>The <\/span><strong>Child Tax Credit<\/strong><span> allows as much as $1000 in tax credit for each qualifying child, depending on income. <\/span><\/li>\n<ul>\n<li><span>The child must meet certain qualifications.<\/span><\/li>\n<ul>\n<li><span>Child must be under 17 years of age<\/span><\/li>\n<li><span>There must be proof or records that you are their parent or legal guardian<\/span><\/li>\n<li><span>You must show proof of support (which means keeping track of certain expenses, such as nanny-related costs)<\/span><\/li>\n<li><span>You must show proof of residency and citizenship.<\/span><\/li>\n<\/ul>\n<\/ul>\n<\/ul>\n<p><strong>Conclusion: <\/strong><\/p>\n<p><span>Take care of the people who take care of you.<\/span><\/p>\n<p><span>Failing to file taxes properly for your household can result in them not having access to social security or unemployment.<\/span><\/p>\n<p><span>You trust your nannies and household employees with your most important assets: your loved ones, and your home. Treat them with respect, and all can benefit.<\/span><\/p>\n<h2> <\/h2>\n","protected":false},"excerpt":{"rendered":"<p>Share This Infographic On Your Site<br \/>\n<p><strong>Please include attribution to http:\/\/www.homeworksolutions.com with this graphic.<\/strong><br \/><br \/><a href=’http:\/\/info.homeworksolutions.com\/blog\/millennial-childcare’><img src=’http:\/\/cdn2.hubspot.net\/hubfs\/54123\/1601_ig_home-work-solutions_millennial-guide-to-childcarev2.jpg’ alt=’Your Millennial Guide to Childcare [INFOGRAPHIC]’ width=” border=’0′ \/><\/a><\/p><br \/>\nMillennials, as a whole, are starting to have children, and since raising a child can be expensive, many Millennials choose to work and use childcare services for help. If you’re a Millennial and you’re interested in learning more about childcare services, then check out some of our thoughts below.<\/p>\n","protected":false},"author":1,"featured_media":11854,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[404,520,27,114],"class_list":["post-11853","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-childcare","tag-millennial","tag-nanny-tax","tag-nanny-taxes"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.8 (Yoast SEO v28.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Your Millennial Guide to Childcare [INFOGRAPHIC] - HomeWork Solutions<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.homeworksolutions.com\/es\/2016\/04\/14\/blog-millennial-childcare\/\" \/>\n<meta property=\"og:locale\" content=\"es_MX\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Your Millennial Guide to Childcare [INFOGRAPHIC]\" \/>\n<meta property=\"og:description\" content=\"Share This Infographic On Your Site <p><strong>Please include attribution to http:\/\/www.homeworksolutions.com with this graphic.<\/strong><br \/><br \/><a href='http:\/\/info.homeworksolutions.com\/blog\/millennial-childcare'><img src='http:\/\/cdn2.hubspot.net\/hubfs\/54123\/1601_ig_home-work-solutions_millennial-guide-to-childcarev2.jpg' alt='Your Millennial Guide to Childcare [INFOGRAPHIC]' width='' border='0' \/><\/a><\/p> Millennials, as a whole, are starting to have children, and since raising a child can be expensive, many Millennials choose to work and use childcare services for help. 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HomeWork Solutions","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.homeworksolutions.com\/es\/2016\/04\/14\/blog-millennial-childcare\/","og_locale":"es_MX","og_type":"article","og_title":"Your Millennial Guide to Childcare [INFOGRAPHIC]","og_description":"Share This Infographic On Your Site <p><strong>Please include attribution to http:\/\/www.homeworksolutions.com with this graphic.<\/strong><br \/><br \/><a href='http:\/\/info.homeworksolutions.com\/blog\/millennial-childcare'><img src='http:\/\/cdn2.hubspot.net\/hubfs\/54123\/1601_ig_home-work-solutions_millennial-guide-to-childcarev2.jpg' alt='Your Millennial Guide to Childcare [INFOGRAPHIC]' width='' border='0' \/><\/a><\/p> Millennials, as a whole, are starting to have children, and since raising a child can be expensive, many Millennials choose to work and use childcare services for help. 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