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Daycare and Taxes All things related to Taxes and running a Daycare post here. Topics of tax exemptions, forms, filings, tax write offs, IRS etc.

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Old 03-16-2016, 11:09 AM
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LittleScholars LittleScholars is online now
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Default How to Calculate Tax Withholdings from Daycare Substitute?

I'm a bit confused about how much to withhold from a future daycare substitutes pay. I also want to make sure I'm making it clear to employees how much I'm withholding (and for what), and well as what they are responsible for paying (if anything).

I live in New York State if that makes a difference.

Thank you!!!
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Old 03-16-2016, 11:28 AM
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There should be specific tax forms for that. A W2 at the end of the year for sure. You would be required to withhold what any employer legally has to.
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Old 03-16-2016, 11:29 AM
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Originally Posted by LittleScholars View Post
I'm a bit confused about how much to withhold from a future daycare substitutes pay. I also want to make sure I'm making it clear to employees how much I'm withholding (and for what), and well as what they are responsible for paying (if anything).

I live in New York State if that makes a difference.

Thank you!!!
You must withhold Social Security/Medicare taxes of 7.65%. You must withhold federal and NY state income taxes based on how the employee fills out Form W-4. You must purchase workers compensation insurance.
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Old 03-16-2016, 07:26 PM
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I hired a sub this year and I would definitely recommend meeting with a tax/payroll professional in your state. There are a ton of things that I wouldn't have known if I hadn't met with someone.

Tom's blog does a good job of explaining the federal stuff that you need to do, but each state and city is different (like in my area, I have to withhold city and school district taxes in addition to state and federal). http://tomcopelandblog.com/the-many-...ng-an-employee

When I met with a tax guy about this it only took about 30 minutes and he never even billed me for it. If he had, it would have been about $75 based on his quote. Totally worth it.
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