The household employment experts blog

Your Guide to Understanding Household Employer Paperwork in 2024

If you hire individuals to work in your home, such as nannies, senior caregivers, or housecleaners, you are likely a household employer in the eyes of federal labor and tax authorities. This employment relationship means you’re responsible for filing the proper taxes and providing the necessary paperwork to your employees if you pay them over $2,700 for the year (updated for 2024).

Why CPAs Should Engage Clients on Caregiving Needs

As the Baby Boomer generation ages, a growing number of them face decisions around long-term care needs for themselves or their parents. This presents an opportunity for CPAs to have important family wealth-planning conversations. By proactively discussing potential home caregiver requirements, you can position your firm as a trusted advisor while identifying clients who may need support transferring assets or updating estate plans.

Paid ‘Under the Table’ – Can I Still Receive Social Security?

If you’ve worked as a household employee and received your pay ‘under the table,’ you might wonder about your eligibility for Social Security benefits when you retire. The answer is not straightforward and depends significantly on your marital status, work history, and how your income was reported.

Managing Household Payroll: A CPA’s Guide to Navigating Your Clients’ Nanny Taxes

For CPAs, now is a great time of year to ensure clients with household employees—like nannies—are doing things the right way to make tax time easier for them and for you. It’s ideal if these clients have diligently tracked hours, issued accurate paychecks with the appropriate Social Security and Medicare taxes withheld, and kept up with quarterly unemployment tax filings and W-2 distribution. Unfortunately, this scenario is more the exception than the rule. Many employers of household employees are either not fully aware of their responsibilities or find themselves too pressed for time to manage them effectively, often creating additional workload for their CPAs.

Labor Rules Roundup: June, 2024

May was an extremely busy month for labor rules across the U.S. Read on for our latest roundup of the Department of Labor’s final rule, its ramifications across industries, and expert opinions on how all these topics impact your practice and your clients. DOL Finalizes Fiduciary Investment Advice Regulation | Practical Law The Journal | ReutersReutersThe Department of Labor (DOL) has finalized a regulation on the definition of fiduciary investment advice under the Employee Retirement Income … 

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