Is this a part time job? $2300 a month in cash at $20/hour is ~27 hours a week. $20/hour might be kind of low for a part time job but it depends on the circumstances. Being able to take home $2300 after taxes is very doable but you may need to take a job with more hours.
Aside from the legality issues people have already mentioned, you’re less likely to be treated well by someone paying in cash. They’re doing it to save money (which might translate to minimizing their expenses with you in other ways) or because they can’t be bothered with the hassle of payroll (and maybe can’t be bothered with the other “hassles” of being a good employer either, like guaranteed hours, giving you proper notice or finding backup care), or because they view a nanny as a short term solution while they wait for a daycare spot or something. Maybe that kind of more transactional relationship is okay with you if nannying is something you do part time, temporarily while in school, but if not, realize being paid in cash is not just “free money”... there are going to be trade offs.
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