If you’re balking at the idea of paying a monthly fee for a payroll service when you only plan to use it for certain months of the year (let’s say only from September to June, when your kids are in school), Payroll by Wave is a flexible option that allows you to suspend payroll at no charge for as long as you need to-without closing down your account. With simple pricing and low fees, Savvy Nanny is a budget-smart choice, whether you have one employee or a half dozen. At the end of the tax year, Savvy Nanny will file your W-2 and provide you a completed form Schedule H to file with your income tax return. The flat monthly rate for Savvy Nanny is $40 (for up to two employees) and there is a $50 annual fee. Each pay you will see the exact amount that will be deducted from your bank account. Expenses are easier to budget and there is less risk to overdraw your bank account. Impounding is desirable so that you do not have to pay taxes in one lump sum at the end of the quarter. We also like that Savvy Nanny does “payroll impounding,” a fancy term for putting your withholdings into a separate account every pay period allocated for taxes. With Savvy Nanny-you’re charged one flat rate for up to two employees, with only an extra $6 per person charge after that.Īs far as features go, this company offers the usual selection: automated payroll, flexible customer service, direct deposit and emailed pay stubs to your nanny.
If you employ more than one kind of childcare provider (think after-school nanny, full-time summer nanny, weekend babysitter), it can get costly adding these employees to your payroll when companies charge extra fees for each additional payee.
(However, the one downside here is that pricing info is tough to find without asking for a personal quote.) There are also additional fees for the cost of filing your taxes through the system when the time comes-or you can choose a self-service option and save on your monthly plan. With the Nanny and Household option, you can take advantage of even more benefits, like running automated payroll from your smartphone or computer, calculating taxes using SurePayroll’s software, and even filing your taxes with the appropriate agencies right through the system.Ĭosts are subject to change from business to business, but the flat rate for SurePayroll is about $30 per month for one employee, with a fee of another $5 per month for additional employees. Plus, it offers flexible customer service along with the ability to ask its in-house tax experts all kinds of questions. SurePayroll only maintains a one or two-day debit period, which means it doesn't hold onto your money for quite as long as many other companies do before disbursing it. With all SurePayroll plans, you can pay only for what you use, run one or two-day payroll, and receive customized guidance for staying compliant with tax laws for whatever type of business you’re running. Its Nanny and Household plan allows you to pay your employee while making sure you’re meeting the various legal requirements related to taxes. SurePayroll was actually the first company to ever bring payroll for small businesses to the internet back in 2000, and the company has continued providing an easy-to-use, flexible, and affordable service ever since. Thankfully, there are payroll services that make these transactions easy-peasy-for you and your nanny. That’s where things get really complicated.īy the time you factor in tax law, W-2s, employee benefits, insurance, and overtime, your head may be spinning (not to mention all the hours spent trying to figure it out). It’s your responsibility to pay them on time, and often with an employment or “nanny” tax to state and federal agencies. While they certainly earns every penny, navigating the employee/employer relationship is tricky your nanny might feel like family, but you’re still their boss. But the one thing you totally hate? The chore of paying their wages and taxes.
It's wonderful to have a nanny who is great with your kids, helps out around the house, and makes it possible for you to juggle everything. If you buy something through our links, we may earn a commission.
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