Nannies are paid hourly or weekly wages based on full-time or part-time employment, along with optional health insurance and periodical vision or dental check ups. Nanny salaries are usually paid along with taxes.Continue Reading
Paying hourly wages is the most common method of nanny payment. The minimum wage requirement set by the federal government is $7.25 per hour and can vary state-wise to $20 per hour or more. To calculate the ideal payment for a nanny, consider the total salary to be paid and divide it by the number of nanny hours worked. If the resulting figure falls below the minimum wage, increase the pay.
As per government rules, nannies are employed by parents and are subject to tax. For legal nanny pay, parents should work out the state income tax, the federal income tax, Medicare and Social Security taxes. Usually, the tax percentage varies between 15 and 20 percent of the total salary paid to the nanny. Parents are required to calculate the taxes or hire a third-party payroll specialist to work out tax options for nannies.
A few employment benefits for nannies include the payment of health premiums and dental-vision hygiene, vacation options, sick leave and paid holidays. The salary is increased or decreased based on the additional benefits that the employer provides.Learn more about Salaries