Household employment creates a unique challenge for both families their trusted advisors and fiduciaries. Typically, there are federal, state and local laws to navigate. To make it even more complicated, household employment obligations can be very different from that of commercial employment – different forms, different deadlines, different processes and different labor laws.
The result is a significant number of exemptions, exceptions and nuances that can create financial and legal risk for families. It also means household employers generally require more hand-holding than commercial employers because they don’t have the luxury of an HR or Accounting team to lean on when questions arise.
The goal of this white paper is to help advisors and fiduciaries eliminate that risk for their clients that employ a domestic worker(s). Again, there are numerous variances by state and by type of worker, but this overview should give you a general understanding of the key issues for household employers – and how to help your clients avoid costly mistakes.
Identify the legal responsibilities, benefits, and tax incentives of employing a household worker (e.g., nanny, senior caregiver, private nurse, housekeeper).
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