Daycare.com Forum

Go Back   Daycare.com Forum > Daycare and Taxes

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.

Reply
 
Thread Tools Display Modes
  #1  
Old 02-15-2017, 12:04 PM
daycarediva's Avatar
daycarediva daycarediva is offline
Daycare.com Member
 
Join Date: Jul 2012
Posts: 10,262
Default We Don't Owe

For the first time in almost 8 years, we don't owe in. We are actually getting a little back. Idc if it was ZERO back, as long as I didn't owe them more money.

We took the estimated tax payments and then sent in 1.5x that amount.

Without paying for the ACA, plus not owing in, my savings account looks pretty good compared to this time last year.
Reply With Quote
  #2  
Old 02-15-2017, 12:52 PM
TXhomedaycare's Avatar
TXhomedaycare TXhomedaycare is offline
Daycare.com Member
 
Join Date: Mar 2015
Location: Lonestar State
Posts: 293
Default

Quote:
Originally Posted by daycarediva View Post
For the first time in almost 8 years, we don't owe in. We are actually getting a little back. Idc if it was ZERO back, as long as I didn't owe them more money.

We took the estimated tax payments and then sent in 1.5x that amount.

Without paying for the ACA, plus not owing in, my savings account looks pretty good compared to this time last year.
I hope we don't owe, getting something back would be the cherry on top.
Reply With Quote
  #3  
Old 02-15-2017, 01:15 PM
Play Care's Avatar
Play Care Play Care is offline
Daycare.com Member
 
Join Date: Dec 2012
Location: Upstate NY
Posts: 6,308
Default

Reply With Quote
  #4  
Old 02-16-2017, 05:45 AM
daycarediva's Avatar
daycarediva daycarediva is offline
Daycare.com Member
 
Join Date: Jul 2012
Posts: 10,262
Default

Quote:
Originally Posted by TXhomedaycare View Post
I hope we don't owe, getting something back would be the cherry on top.
Exactly! Just a couple of hundred, but anything more than owing is amazing!
Reply With Quote
  #5  
Old 02-16-2017, 07:26 AM
Blackcat31's Avatar
Blackcat31 Blackcat31 is offline
 
Join Date: Oct 2010
Posts: 24,600
Default

It kind of feels like winning the lottery doesn't it?

Which is really kind of sad... lol!
I was elated last year when we only owed half of what we did the previous year.

This year we owed one and got a refund of $44 from the other. Still better than it's been but tax season really shouldn't be the negative, stressful experience that it is for self-employed people.

I always get a bit pissy this time of year... I get tired of hearing about all my "over-worked" single daycare parents that don't pay a dime of their own money towards the care of their children but yet still get $1000's back in refunds.

One of them is in Mexico right now for 14 days. Wish I could afford a weekend somewhere tropical let alone 2 weeks! But I gotta work. Some one has to pay my bills.
Reply With Quote
  #6  
Old 02-16-2017, 07:38 AM
Play Care's Avatar
Play Care Play Care is offline
Daycare.com Member
 
Join Date: Dec 2012
Location: Upstate NY
Posts: 6,308
Default

Quote:
Originally Posted by Blackcat31 View Post
It kind of feels like winning the lottery doesn't it?

Which is really kind of sad... lol!
I was elated last year when we only owed half of what we did the previous year.

This year we owed one and got a refund of $44 from the other. Still better than it's been but tax season really shouldn't be the negative, stressful experience that it is for self-employed people.

I always get a bit pissy this time of year... I get tired of hearing about all my "over-worked" single daycare parents that don't pay a dime of their own money towards the care of their children but yet still get $1000's back in refunds.

One of them is in Mexico right now for 14 days. Wish I could afford a weekend somewhere tropical let alone 2 weeks! But I gotta work. Some one has to pay my bills.
My friend teaches at HS and was saying the same thing. Families coming in having gotten thousands back and heading to warm vacays over the break next week. My friend was like, "I'm taking my kids swimming at the Y!"
Reply With Quote
  #7  
Old 02-16-2017, 11:39 AM
daycarediva's Avatar
daycarediva daycarediva is offline
Daycare.com Member
 
Join Date: Jul 2012
Posts: 10,262
Default

Quote:
Originally Posted by Blackcat31 View Post
It kind of feels like winning the lottery doesn't it?

Which is really kind of sad... lol!
I was elated last year when we only owed half of what we did the previous year.

This year we owed one and got a refund of $44 from the other. Still better than it's been but tax season really shouldn't be the negative, stressful experience that it is for self-employed people.

I always get a bit pissy this time of year... I get tired of hearing about all my "over-worked" single daycare parents that don't pay a dime of their own money towards the care of their children but yet still get $1000's back in refunds.

One of them is in Mexico right now for 14 days. Wish I could afford a weekend somewhere tropical let alone 2 weeks! But I gotta work. Some one has to pay my bills.
Bc- when I had dd, no help/social programs of any kind, my neighbor was on HUD and kept pushing out babies. One year she got a 12,000 tax return, left her 5 kids with her mom, and went to puerto rico for 2 weeks. She barely ever worked! We used our measly 2,000 to pay up our bills and put in savings. Dh and I ordered pizza for the first time in like a year.


At least I can afford things like homes, cars, etc. now. It stinks not blowing money on elaborate vacations, but it's something to be proud of.


Our return was enough to pay for the tax preparation and then I put the rest in savings. We have another tax payment coming up in April. Oh, darn responsibilities!
Reply With Quote
  #8  
Old 02-16-2017, 03:39 PM
Gemma's Avatar
Gemma Gemma is offline
Childcare Provider
 
Join Date: Mar 2015
Location: U.S.A
Posts: 602
Default

Haven't done mine yet, I know I will owe so I'm waiting last minute
Reply With Quote
  #9  
Old 02-17-2017, 07:23 AM
Sumshine's Avatar
Sumshine Sumshine is offline
Daycare.com Member
 
Join Date: Dec 2016
Location: Minnesota
Posts: 204
Default

Wooooo!

I was only officially opened for 1 month in 2016 and didn't have many kiddos until the last week of Dec so my business was a dive for 2016. I am going to enjoy what will be the only return in a LONG time where I get money back and not owe!

I told DH I feel I won't know what to do with myself next year I'll be crying tears of sadness and I won't know how to deal with the situation because I won't have a nice chunk of money coming my way I'll be owing it!

I feel like I've wasted these last 3 returns since claiming DS and this one I'm going to have to cherish lol!
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -7. The time now is 07:18 PM.



Daycare.com         Find A Daycare         List Your Daycare         Toys & Products                 About Us

Daycare.com
Please read our Disclaimer before continuing.

Topics pertain mainly to the following States:

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming