Reply to How Do Nanny Shares Work?

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[quote=Anonymous]"1) Does everyone just pay taxes on the portion that they paid the nanny per year ? YES - YOU EACH PAY TAXES ON WHAT EACH FAMILY INDIVIDUALLY PAYS THE NANNY

2) Hosting - we have shared for many years with various famlilies. Only 1 wanted to share the hosting. Hosting has not influenced our salary splits. The host family bears some added expenses from hosting but also gets the benefit of having it in their house. It kind of evens out, provided that you have a family that is keen on hosting (i much prefer hosting since I never have to pack stuff for the kids).

3) Non-host family usually sends food for their child. That said, they will mix food some, so hopefully you get a family that is ok w/ sending a bit extra since they recognize their child also occassionally eats some of host family's food.

4) in our case, nanny gets 2 weeks vacation w/ 1 week to be set jointly by the families. We have simply talked with the other family - and taken nanny's preference generally into account - in selecting the overlap week. The other week is nanny's to use as she sees fit.

I think a 3 way contract is very useful for a FT share so you are all on the same page. I also second the importance of guaranteed hours in a FT share. Both families need to commit to the share hours being x to y on specific days and paying for that time whether they use it or not. In a share you can't really shift hours (like have nanny stay an hour later than the normal block of time because you came late that day) easily since she still has to work the standard hours for the other fmaily so it just makes her day really long. [/quote]

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