How Much Does a Nanny Cost in Maryland?

No matter whether it’s full-time live out nanny services or part-time sitter services
that your family requires, costs vary according to each family’s individual needs and
priorities. Families with newborns or young children typically incur higher hourly
charges.
Nannies with specific training or experience managing particular scenarios often
command higher rates, and metropolitan regions tend to pay higher nanny fees than
rural ones.

Cost of a Nanny

A nanny or babysitter can assist with an array of childcare-related tasks. They offer
children a safe, nurturing environment in which to thrive while simultaneously
transporting them between extracurricular activities or playdates.
Nannies with more experience and additional qualifications such as CPR certification
or early childhood education training may charge higher rates, however if your goal
is finding someone to provide the level of care necessary. This additional expense
might be well worth your while.
Finding a nanny who shares your parenting style and values is essential. When
interviewing candidates, pay close attention to how they interact with your children –
look for someone engaging, attentive and genuine about improving your child’s
wellbeing. A reliable nanny should also be trusted with caretaker responsibilities –
some families opt for workers compensation insurance which adds only nominally
annually.

Fees

Nanny rates will depend on both the age of your children and the duties expected of
her, such as advanced child-care training with certifications receiving more pay than
general nannies; rates should increase with increasing experience levels as well.
Nannies are household employees who must be compensated in accordance with
federal and state tax rules. You should file Form W-2 for your nanny, providing
copies to Social Security and Medicare. If she earns more than $2,400 annually,
Schedule H is necessary in order to withhold Maryland income tax from her
paycheck.
As part of your payments to your nanny, you should cover expenses related to her
work such as childcare and transportation costs. Furthermore, provide her with an
employment contract outlining their rate of pay, job description and working hours;
some families opt for payroll and tax services that take care of this for them.

Insurance

Nanny insurance is essential to any caregiver as it protects both employers and
employees in case of accidents or injuries. Most nannies include this coverage within
their costs of hiring; however, you may wish to purchase it separately.
Additionally to workers’ comp, it may be worthwhile purchasing employment
practices liability coverage for your nanny. Such insurance could protect against
incidents like wrongful termination or discrimination based on age, gender or race.
When your nanny will use their personal car for work-related reasons, it may be
beneficial to purchase automobile insurance coverage as well. While this may
increase your car insurance rate slightly, having this additional layer of protection in
the event of an accident that exceeds home or auto policy limits could save you
thousands in medical costs and repairs. Adding your nanny usually costs $600-1,600
annually. Get a quote online, call your agent, or use an app like Insurify for
comparison between insurers’ prices and deductibles.

Travel

Hire a nanny and there will likely be travel costs involved with their job – they might
drive your children to parks, museums, playdates and other activities, while running
errands such as getting groceries or gas for you.
Some families offer to reimburse their nannies for expenses using an IRS-approved
mileage reimbursement rate, which does not count as taxable compensation. Before
proceeding, be sure to discuss it with them first and include all details in a contract
so everyone involved understands.
Families may opt to pay their nannies an hourly wage with overtime included; this
may be the easiest solution, but could cost more in taxes. Be sure to discuss all
travel-related costs with your nanny in your contract so there are no surprises later
on.

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