2022 Minimum Wage Increases

As the calendar turns to 2022, many workers will see an increase in minimum wage in the new year.  26 states have minimum wage increases scheduled for 2022 and 21 of those states have their new rate effective January 1st.  The increases can be traced to a few factors including previous ballot initiatives and automatic cost […]

IRS Mileage Rate for 2022

The IRS has set the standard mileage rate for 2022 at 58.5 cents per mile.  This is an increase from 56.5 cents in 2021.  Per the IRS announcement, “the standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile.”  Employers are not required to pay the IRS […]

2022 Nanny Tax Information

The Social Security Administration has released the 2022 earnings threshold for employers of nannies and other household employees withholding FICA (Social Security and Medicare taxes).  Unlike many industries, for household employment, FICA taxes are not withheld until the earnings threshold is met.  Although the threshold represents the minimum that an employee must earn for FICA withholdings, it is important to note […]

Employing a Summer Household Employee

Summer is here and many families will be hiring a nanny or other short-term employee for summer employment.  All employees, with very limited exceptions, require wage reporting and taxes to be withheld – this includes summer nannies, part-time workers, seasonal employees, and similar workers who don’t fit the typical 9 to 5, year-round arrangement that people generally […]

2021 Tax Credits for Household Employers

The tax benefits for household employers who pay their employees “on the books” were given a boost with the recent passage of the American Rescue Plan.  Household employers were always able to claim tax credits through contributing to their Dependent Care Flex Spending Account (FSA) and/or through the Child and Dependent Care Tax Credit, but […]

Coronavirus COVID-19 Information

The coronavirus COVID-19 outbreak has resulted in an unsettling time for us all.  As the pandemic continues, we want to assure you that NannyChex is operating normally.  We are monitoring the outbreak and following the guidance of the Centers for Disease Control and Prevention (CDC) and state/local health agencies.  We have implemented guidelines to keep […]