Tax Deductible HRA and HSA for Parents to Offer Nannies Providing benefits for your nanny is a great way to keep her long-term. Benefits that you may want to offer your nanny include: paid vacation (2 weeks minimum); paid Federal holidays (at least six days including New Years Day, Memorial Day, July 4, Labor Day, […]
Must Be Paid On-The-Books to Collect Unemployment or Disability Benefits Tomorrow is tax day! Being paid-on-the-books is the best way to protect yourself in case you are laid-off or get sick. If you are one of the 70% to 80% estimated domestic employees that are not tax compliant (according to IRS estimates) there is no […]
Women and Money Since most nannies are women, this week we will review our favorite books to help women manage their money. Even in this century and new decade, many women let the men in their lives manage their money for them. But, don’t you hate women who just sit around waiting for Prince Charming […]
On the first day of the new year we discussed how to spend you holiday bonus which led into this week’s discussion on how nannies should develop a financial plan. If you’re already debt-free, have fully funded your investment accounts, and have your emergency funds are in order, you’ve got it made. There are plenty […]
The International Nanny Association (INA) is extremely pleased to report that INA’s ongoing lobbying effort to increase the federal Child and Dependent Care Tax Credit (CDCTC) has resulted in three bills in Congress in support their position. The bills, H.R. 460 and H.R. 1500 in the House and S. 210 in the Senate, all seek […]
Innocent Mistake Disqualifies Tax BreaksBy Breedlove & Associates Nanny Share arrangements become increasingly popular during tough economic times because they allow families to split the cost of the caregiver’s wages as well as most of the associated costs. In addition, both families are entitled to the same childcare tax breaks as single-family employers. Since the […]
Traditional Health Insurance Versus a Health Savings Account Some of the advantages to a Health Savings Account (HSA) are that the contributions to an HSA are tax deferred, the interest it accumulates is tax deferred, and when funds are withdrawn for qualified medical expenses, no taxes are due on those withdrawals. So, there is no […]
2009 Health Savings Account Contribution LimitsBy Adam Hyers Yesterday we discussed Health Savings Accounts (HSA). With a new year comes increased amounts that health savings account (HSA) owners may contribute to their plan. HSA’s contribution amounts will differ depending on whether the insured owns an individual or family plan. Contribution Limits for 2009The individual contribution […]
INA Lobbying Effort to Increase the Federal Child and Dependent Care Tax CreditDear Nannies: The International Nanny Association (INA) is continuing its lobbying campaign to increase the federal Child and Dependent Care Tax Credit. We received numerous positive responses from INA members, as well as members of Congress, as a direct result of our initial […]
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