Nanny 101

[Anonymous]

Can someone give me a 'hiring a nanny' for dummies quick guide?

I'm reading all these sites on taxes and gross vs. net, healthcare, etc... And my eyes are starting to hurt.
If we are looking to pay $25/hr and have taxes withheld, do we end up paying more than that? How much will her take home be? Is it different if she is an employee completing a W2 vs. a 1099?

Thanks in advance!

[Anonymous]

Nanny can not be 1099
It must be a W2

[Anonymous]

I don't think there's any way to avoid the significant learning curve. The IRS publication is great, but it's not a good starting point for s beginner. Personally, I used a software package called "nannypay"

Their website contains a great getting started guide which will lead you, step by step, through the process. However, it's still a daunting process the first year!

[Anonymous]

PPP here. Also, to quickly (well as quickly as possible) answer your question. To roughly estimate your out of pocket, multiply your nanny's gross pay by 1.1.

Her take home is more complicated. It can be as high as 93% (roughly) of her gross if you only withhold FICA. Unless she submits an accurate w4 to you, there is no way to estimate what her income tax burden will be, for a true net wage. Since you are not required to be involved in her income tax payments, you may never be able to estimate this.

[Anonymous]

OP here - thanks for the tips!
Can I ask the going rate for someone in Loudon County?
It would be for 1 2 YR old FT, and 2 school age kids

[Anonymous]

Anonymous wrote:OP here - thanks for the tips!
Can I ask the going rate for someone in Loudon County?
It would be for 1 2 YR old FT, and 2 school age kids

Since the nanny would most likely be responsible for the 2 school aged kids on the countless sick days, holidays and teacher conference days - and most likely responsible for pick up and drop off as well as their laundry and meal preparation, I would say that you are looking at between $20 and $30 an hour for a legal nanny.

[Anonymous]

Anonymous wrote:Nanny can not be 1099
It must be a W2

For this OP, you are correct. As you know, not all nannies are W-2.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here - thanks for the tips!
Can I ask the going rate for someone in Loudon County?
It would be for 1 2 YR old FT, and 2 school age kids

Since the nanny would most likely be responsible for the 2 school aged kids on the countless sick days, holidays and teacher conference days - and most likely responsible for pick up and drop off as well as their laundry and meal preparation, I would say that you are looking at between $20 and $30 an hour for a legal nanny.

Insane - especially in Loudoun County. Ask your neighbors and friends what they pay. I assure you, it's not going to be $20. The $30 rate is a wet dream.

[Anonymous]

https://www.care.com/homepay/nanny-tax-guide

While I don't recommend their payment system (I haven't used it and don't know anyone that has), their is information presented in a way that you should be able to understand. I wish you luck.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here - thanks for the tips!
Can I ask the going rate for someone in Loudon County?
It would be for 1 2 YR old FT, and 2 school age kids

Since the nanny would most likely be responsible for the 2 school aged kids on the countless sick days, holidays and teacher conference days - and most likely responsible for pick up and drop off as well as their laundry and meal preparation, I would say that you are looking at between $20 and $30 an hour for a legal nanny.

I agree with the above range.

[Anonymous]

In Loudon County, expect to pay $20-23/hr.

[Anonymous]

Anonymous wrote:Can someone give me a 'hiring a nanny' for dummies quick guide?

I'm reading all these sites on taxes and gross vs. net, healthcare, etc... And my eyes are starting to hurt.
If we are looking to pay $25/hr and have taxes withheld, do we end up paying more than that? How much will her take home be? Is it different if she is an employee completing a W2 vs. a 1099?

Thanks in advance!

Nanny won't want taxes withheld, payment in cash is the benefit of this profession. If nanny wanted taxes withheld she could get any other job.

[Anonymous]

17/hour.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here - thanks for the tips!
Can I ask the going rate for someone in Loudon County?
It would be for 1 2 YR old FT, and 2 school age kids

Since the nanny would most likely be responsible for the 2 school aged kids on the countless sick days, holidays and teacher conference days - and most likely responsible for pick up and drop off as well as their laundry and meal preparation, I would say that you are looking at between $20 and $30 an hour for a legal nanny.

Insane - especially in Loudoun County. Ask your neighbors and friends what they pay. I assure you, it's not going to be $20. The $30 rate is a wet dream.

Agreed. On what planet do nannies make $30/hour??? Attorneys who are not employed full time (contract attorneys) make that. Keep dreaming.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here - thanks for the tips!
Can I ask the going rate for someone in Loudon County?
It would be for 1 2 YR old FT, and 2 school age kids

Since the nanny would most likely be responsible for the 2 school aged kids on the countless sick days, holidays and teacher conference days - and most likely responsible for pick up and drop off as well as their laundry and meal preparation, I would say that you are looking at between $20 and $30 an hour for a legal nanny.

Kids are sick like at most 5 days a year.

OP, you are looking at ~$14 an hour a FT nanny for your one child in Loudon. Good luck.