Why You Shouldn't Pay Your Nanny Under the Table

Post on 29-Nov-2014

244 views 2 download

description

Paying your nanny under the table comes with financial and professional consequences. IRS fines and penalties can add up, plus you may harm your professional reputation. Click through this presentation to see two important items you need to know.

Transcript of Why You Shouldn't Pay Your Nanny Under the Table

Why You Shouldn’t

Pay Your Nanny

Under the Table

A Moral Dilemma with

Financial & Professional

Consequences

You May Think That Paying Under the Table Saves You Money.

However, the Price Tag is High.

*Glassdoor.com.

“Families who do not pay their household staff legally are playing with fire.”

“They are vulnerable on a number of levels. Instances of work-related injury,

unemployment-insurance claims, wrongful-termination claims and overtime-

compensation claims are a few examples of areas of exposure that can

easily, and often do, open up huge cans of worms, resulting in huge

penalties and, occasionally, criminal charges, too,” says Cliff Greenhouse,

president of Pavilion Agency and the Nanny Authority.

*Glassdoor.com.

• There is no statute of

limitations, so long-standing

issues can add up.

• Risk of professional

consequences are steep.

Guidelines for paying the nanny

tax:

• If you pay your nanny $1,900

or more in 2014 or,

• $1,000 or more per quarter.

Easy. Online. SurePayroll.

Avoid hefty IRS fines and use

SurePayroll for your nanny payroll.