I don’t know why they can’t just lease the vehicle, have it kept at their house, and have you drive it as a nanny car. They are getting some kind of benefit from this arrangement tax- and/or liability-wise by having OP use it full-time.

Anonymous wrote:If the car is available to be used as a personal vehicle, IRS considers IT TAXABLE INCOME.

Exactly! Live-in nanny here. I always negotiate for ACCESS to a car as needed, but I don’t need or want exclusive use, which can be taxed.

If the car is available to be used as a personal vehicle, IRS considers IT TAXABLE INCOME.

If they are paying the lease and insurance then nanny is fine. The only thing is to not put yourself on the lease agreement papers but be on the insurance in case something happens to you if an accident. My NF bought me a phone and paid the monthly bill. I also used their car and was covered on the insurance. I had good bosses though. They were very flexible and human. Be careful with those families that calculate things like lawyers.

This is taxable for you. Do not accept.

Anonymous wrote:I would catch the bus, if a bus runs in that area and use the rented car for their children use only. Don't get yourself in any financial difficulties due to a rented car.

Please explain how this might happen, if the employers are paying the lease cost and the insurance. How would the nanny get into financial problems, in case of an accident or whatever. Wouldn't all the risks fall back on them?

I would catch the bus, if a bus runs in that area and use the rented car for their children use only. Don't get yourself in any financial difficulties due to a rented car.

OP here. My employers said they would cover insurance and any over-miles on the lease. I may just keep my old car but use their car to get back and forth to work and drive their child. Thanks!

I wouldn't do it. I'm a live-in nanny with full use of a car at all times, but they aren't leased. Leasing changes everythjng!

Leasing a car is something to consider.

Good point on a.)That the leasing company know that YOU will be the primary driver for this car & that it will be garaged at your residence and b.)That your bosses should cover at least 50% of the insurance, primarily during your work hours.

But what would happen if someone hit the car during your personal use time off?

Make sure these questions are covered before you agree to accept said lease.

Anonymous wrote:"Who will pay the deductible on the insurance?"

This. What happens if you get in an accident? Does it matter if it is on your time vs when you are working?

As long as the leasing company knows You are driving it the only issue you might have is restricted miles. Most leases have a mileage limit. If you go over there would be extra charges, if that happens who pays those.

"Who will pay the deductible on the insurance?"

My employers want to lease a car for me for both my job with their daughter and my personal use.

I have never been in this situation before - what do I need to know/ask?

TIA