Tuesday, June 17, 2014

Educating Your Children: Start with Your Nanny!

You hired your nanny because she is smart, caring, responsible and creative.  You trust her to take care of your children.  

Can you also depend on your nanny to be a positive educational role model as well?  After all, aren’t these the same attributes of many great teachers?

You do your part, paying your nanny fairly, and provide her with vacation and personal time.  You also pay the nanny tax, knowing that being compliant helps your nanny become or stay eligible for social security and Medicare benefits upon retirement.  

If you find the right one, your nanny can serve as both a caregiver and educator who can teach your children a lot more than just the ABCs.  Of course, first and foremost the general well being, happiness and safety of your kids is most important.

Still many parents today are finding that having a nanny on the payroll who can also help propel their kids educationally is more valuable than simply keeping an eye on them as they play at the park, watch TV and play video games.

In addition, there are many highly educated women (and some men) who are turning to childcare as a way to supplement or replace lost income.  The job market is full of teachers who have been laid off or are frustrated with the lack of jobs in their specialty as well as college graduates with teaching and other degrees who cannot find work.  Many are turning to the nanny profession, if only for the short term.  It can be a win-win situation for everyone.  

As with most anything – be sure to weigh the pros and cons.  Sometimes an overly qualified nanny won’t want to do those more menial chores that make your life easier.  Once the economy picks up, they may land their dream job, and leave you in a lurch.  They may also be a bit more expensive than the average nanny.

The upside is you could hire a nanny who loves to teach, adores children and has the experience, knowledge and patience to act as both tutor and caregiver.

Just be sure to do your own homework first.  You must figure out exactly what you would like your children to learn.  Then you need to provide your nanny with the resources she will need.  Next, help her carve out a specific time each day to work with your child.  Lastly, make sure she communicates back to you the progress your child is making.

* What is The Nanny Payroll Tax?  If you pay your nanny more than $1,000 per quarter or $1,900 throughout the year 2014, you are legally required to pay the nanny tax, otherwise known as the “household employment tax.” Failure to do so can set you back with fines and penalties up to $25,000. Being compliant helps your nanny become or stay eligible for social security and Medicare benefits upon retirement.  

Online payroll services like SurePayroll, Inc. make paying nanny taxes quick, easy and inexpensive.

No comments: