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Hi All, My Junior has decided to put paper, as she wanted to pursue Cdac course from Sept-22. She just informed that she signed a bond of 2 years and currently she has completed 1.7 years in HCL. What should she do now? Results is on 10-aug and she decided to put paper on that day itself (Earlier she told the same to Sr. manager) Kindly suggest if any action would be taken by HCL OR No experience letter would be shared with her. Regards, HCL Technologie HCL Technologies HCL Technologies
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I pay my nanny cash and don’t ask questions. Nightmare going legit
Cash, unless you have aspirations which require a US Senate confirmation
1099
She's telling you that she's going to be shady about it. You can play along/play dumb... or not. Many people do.
Legally, your'e obligated to withhold and pay your end of SS and Medicare = 7.65%. And repent get wages over a nominal amount via 1099 so that she pays taxes. If you go that route, you should plan to increase the gross wage accordingly.
If she doesn’t pay her share of takes, you are still liable. Have gone through the various options in our case, and the long and short is to give her a W2 and pay your unemployment, SS and Medicare portions. I see someone suggested a 1099, which will get you into trouble with the IRS. This is the biggest and easiest trap that many fall in. Sucks to pay more, but will give you peace of mind!
Even if the nanny pays his/her own taxes, you still are required to pay your portion. There's your end of the payroll tax and the nanny's end.
However, I would call BS on the nanny paying any taxes. And technically you should be withholding fed/state/local from her paycheck... A 1099 is not appropriate because the nanny is not an independent come-as-he/she-pleases contractor. The nanny is a "household employee" by definition and is treated as such from a tax perspective.
Speak to someone at HomePay (free) and they can better explain. I use them for payroll and have been pleased.
Perhaps she wants cash under the table
I’d love to go under the table. But it’s not worth the consequences
I recommend checking out SurePayroll which is now a paychex company. It’s like $40/month but makes the paperwork portion of the nanny tax easy to manage from the road. I’ve used it for the last year and no complaints
Never had to do it. This little bit of “smoke” around taxes helped slow down the hiring process enough to find a show stopper. Bottom line is I will just go to a full service agency. Yes it costs more but I will survive an audit which is all I care about
Perhaps she was indicating that she is an accountant and will do your taxes as a value-add?
^exactly what I feared. I thought if I employ somebody I pay taxes and so does she. I might be best to call my cpa here
@sc1 in super layman’s terms please.
I use Nanny pay software. From what I recall it’s just a one time fee of $100 and it’s yours forever.
If it’s a nanny share maybe you could argue she is a consultant and do 1099 which saves you taxes but would put her on the radar with IRS, and she may not be by the book right now
I recommend HomePay to get out of the hassle.
https://youtu.be/heo9syCdtas
It is a nanny share. But I’m going to have a sit down and understand why she told my wife “she does the tax”. All sorts of red flags
You already have the answer OP. She’s trying to give you plausible deniability, even if it’s threadbare Up to you whether opening that can of worms is worth a 30% premium... and losing this particular nanny
We have used www.homeworksolutions.com for years. They do all the heavy lifting. Not worth it to try to cheat out of your tax obligations.
How’s the “sit down” go OP?