Most people just don't have a clue, OP. How old is your child? |
He is 9 months old. |
Is the nanny able to help find another family to? She should be motivated by a significant wage increase. I'd want only a one child family to start with, to see how it works out.
You could look around at your neighborhood parks and playgrounds on the weekends. Talk with other parents. See what suggestions they might have... |
I think the reason parents in a nanny share don't want to deal with taxes is because considering there are multiple families involved, it would be very tricky and complicated to figure out who, how much and how to do the taxes.
It would just be much easier to pay cash. |
What do you mean? If you pay her xyz a week, you pay taxes on xyz. You do it directly with the nanny, not with the other family. |
It isn't complicated at all. Use a payroll service |
It really isn't. If nanny's rate is $18/hour, both families are paying $9/hour. Say she works 40 hours in a week, she gets 2 checks, one from each family, for $360, and each family pays their respective taxes and withholds the nanny's taxes. You can use a payroll service or you can pull out a calculator and do the very basic math yourself. |
50 hours/week x 4.3 weeks a month = 55 hours of straight time x 4.3 weeks = 236.5 hours 1400/236.5 = $5.92/hour for 2 kids Even ith another 2 child family matching the $1400/month, that nanny would be ridiculously underpaid - 4 kids for less than $12/hour. |
How is a share legal in Mongomery County? |
Why do you think it's illegal anywhere? Then we can better answer your question. Are you asking because of the minimum wage changes? That won't happen for another 4 years. |