How do I pay my nanny?
You, the family, are considered the employer hiring a household employee. This means you are hiring a W4/ W2 employee and need to file the correct employment forms, withhold taxes, and pay employer taxes. This can be tricky and complicated; however, if done correctly, you may be eligible for 3 tax breaks that could cover the cost of your employer taxes. To make this process effortless for our families and ensure you get the tax breaks you qualify for, we have partnered with HomePay who will take care of everything for you and WE WILL PAY YOUR REGISTRATION FEE! A $100 savings! HURRAH!
Hiring a nanny requires the following responsibilities. HomePay takes care of each one for you.
- Obtaining your employer tax ID
- Handling worker's compensation insurance, if desired
- Filing the New Hire Report
- Preparing and filing household tax returns
- Remitting tax dollars to each tax authority
- Preparing and distributing Form W-2 to your employee
- Preparing and filing Form W-2 Copy A/ Form W-3 with the Social Security Administration
- Preparing state Annual Reconciliations
-Preparing Schedule H and a 1040-ES Summary Statement to include with your personal federal income tax return
- Handling government alerts and notices
- Payroll management
- Calculating the employee's withholdings for each pay period
- Payroll handled through Direct Deposit
- Distribution and archive of paystubs with pay period and year-to-date totals to your employee electronically
- Audit support
Phew... thanks Homepay for handling it for our families!
For more information, visit their website- https://www.myhomepay.com/windsorhousenannies
