Hiring a Nanny, Housekeeper or Caregiver? Financial Tips for Household Employers
After years of putting it off, my husband and I finally decided to hire a nanny to take care of our children after school. We could have taken the easy way out by using an outside service, but we really wanted to establish a long-lasting relationship with a qualified, caring individual I found on my own.
Fortunately, we found the right person. And, suddenly, we had to take a crash course in understanding what it means to be an employer. How to ensure that our nanny could legally work for us. How to set up a payroll system. How to calculate the taxes we'd need to withdraw from her paycheck.
Even though I am a financial planner, my experience and credentials didn't fully prepare me for this new role. Fortunately, I was able to get great advice from my.
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