Blog

How to Pay a Nanny

Sharon K. Weaver, CFP®, AWMA®

Tuesday, November 16, 2021

Many families have hired a nanny or tutor to help care for children while parents work and to help their kids keep learning after school or if/when schools are closed. Yes, you have to pay a nanny W2 wages, Learn more about nanny payroll.

Grown kids living at home and “sponging” off their parents (receiving financial help) is often the subject of sitcom humor, but in the right circumstances it can actually be helpful. This post is to help parents know what...

A common question I hear is “when can I stop working?” Not that the client necessarily wants to stop working, they just want to know that they can stop. That would be my definition of financial independence; knowing that...

Buying a dental practice can be a lot to take on; the new practice owner suddenly has the responsibilities of running the practice stacked on top of doing great dentistry. The financial realities quickly become an important priority in...

With the increase of the Standard Deduction, many clients found that they weren’t itemizing anymore, and discovered they were missing out on the tax benefits of making charitable contributions. Charitable Stacking is a way to fix...

This year has sparked a lot of conversation about insurance. COVID brought the prospect of death to the forefront for some, and many had a temporary loss of income which gave them a glimpse of what life might look like without a...

There are many types of trusts, and just as many ways to use them. Most commonly, they are used to control (or allow for someone to control) assets after a person dies. They can also be used to shelter money from estate taxes, avoid...

Ask just about anyone about their financial planning and what they would have done differently, and they’ll answer “I wish I would have started saving sooner”. As parents we’re in a position of being able to...

There are a number of dates to be aware of on the way to retirement. Deadlines are triggered by various ages, from age 50, when you can start making catch-up contributions to retirement plans, through age 72 when Required Minimum...

Most dentists we work with took advantage of the first round of Paycheck Protection Program (PPP) loans and HHS funding, and many are now looking at PPP Part 2 and Employee Retention Tax Credits to help make up for lost revenue and...

Health Savings Accounts (HSA) have gained popularity as a way to compensate for higher deductibles and out-of-pocket expenses related to Medical Insurance. Think of an HSA as a medical savings account. Your contributions are tax...

It’s officially spring here, we already had the first tornado of the season. Just some minor damage on the outskirts of town, but it makes a person think about getting important papers organized and grab-able in an emergency....

We’ve been having a lot of conversations about Charitable Remainder Trusts lately, spurred on by concerns about decreasing estate tax limits and changes in IRA beneficiary pay-outs. Charitable Remainder Trusts let you get a...