Daycare.com Forum Force of Nature Disinfectant

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 02-01-2011, 06:46 PM
newtodaycare22's Avatar
newtodaycare22 newtodaycare22 is offline
Daycare.com Member
 
Join Date: Apr 2010
Location: Maryland
Posts: 664
Default Out Of Curiosity....

If you would like to share...

What's the most you've got back from taxes (since doing daycare)?
Reply With Quote
  #2  
Old 02-02-2011, 07:49 AM
AnythingsPossible's Avatar
AnythingsPossible AnythingsPossible is offline
Daycare Member
 
Join Date: Jan 2010
Location: Wyoming
Posts: 799
Default

Never more then $100.00.
Reply With Quote
  #3  
Old 02-02-2011, 07:50 AM
lil angels's Avatar
lil angels lil angels is offline
Advanced Daycare.com Member
 
Join Date: Jan 2011
Posts: 645
Default

about 2,500.00 that is my average
Reply With Quote
  #4  
Old 02-02-2011, 07:51 AM
Stacy214's Avatar
Stacy214 Stacy214 is offline
Daycare.com Member
 
Join Date: Jan 2011
Posts: 197
Default

Crap! I always end up paying
Reply With Quote
  #5  
Old 02-02-2011, 07:54 AM
jen jen is offline
Advanced Daycare.com Member
 
Join Date: Sep 2009
Posts: 1,808
Default

Last year I got $6000...we have 3 kids, hubby always claims 0. I know that it is better to keep your money then let the gov have it interest free, but I am always a wreck that we will owe...
Reply With Quote
  #6  
Old 02-02-2011, 07:56 AM
cillybean83's Avatar
cillybean83 cillybean83 is offline
Daycare.com Member
 
Join Date: Dec 2010
Location: Tennessee
Posts: 543
Default

this year i'm get $7850, but it was my first year, i took a loss, we have 2 kids, hubby claims 0, we get child tax credit, earned income credit, and part of my tuition is a write off
Reply With Quote
  #7  
Old 02-02-2011, 07:59 AM
lvt77's Avatar
lvt77 lvt77 is offline
Daycare Member
 
Join Date: Dec 2010
Location: boonies
Posts: 604
Default

My first full year hubby claims 3 and I had to pay $4788.00
Also have 3 kids.
Reply With Quote
  #8  
Old 02-02-2011, 08:02 AM
Blackcat31's Avatar
Blackcat31 Blackcat31 is offline
 
Join Date: Oct 2010
Posts: 19,396
Default

I don't think I have EVER got $$$$ back......
In my case though, I think it is because both DH and I are self-employed and I have no dependants to claim since they have flown the coop.... But even when they were little, we just never got anything back (a few $$$ for nice dinner out but nothing more...)


(VENT) ...On a side note, this is the time of year I start getting grumpy because I hear all my single moms who get state subsidy paid childcare yakking about their refunds of $5,000 or more and how they are going on a vacation or getting a new iphone, laptop, car, shopping spree...blah, blah, blah.....Of course they gotta run to H&R Block to do Rapid Refund because they couldn't possibly wait 2 weeks to get their money....even though Rapid Refund costs additional money and they didn't have two pennies to rub together days before this..... It just bugs me that I've worked my butt off my whole life and I have NEVER gotten thousands of dollars back to blow however I choose and then live off of all this state aide the rest of the year. Sorry.....didnt mean to rant. I am done now.
Reply With Quote
  #9  
Old 02-02-2011, 08:16 AM
Lilbutterflie's Avatar
Lilbutterflie Lilbutterflie is offline
Advanced Daycare.com Member
 
Join Date: Apr 2010
Location: TX
Posts: 1,366
Default

Last year was our biggest refund EVER, a little over 10K thanks to the 8K first time home buyers credit. But we spent thousands of dollars moving from CA to TX, and then needed to buy all new appliances & light fixtures for our new home since it was a foreclosure & didn't come with any. That money was GONE! I was only in daycare for about 5 months in that year.
Reply With Quote
  #10  
Old 02-02-2011, 08:24 AM
Little People
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Blackcat31 View Post
I don't think I have EVER got $$$$ back......
In my case though, I think it is because both DH and I are self-employed and I have no dependants to claim since they have flown the coop.... But even when they were little, we just never got anything back (a few $$$ for nice dinner out but nothing more...)


(VENT) ...On a side note, this is the time of year I start getting grumpy because I hear all my single moms who get state subsidy paid childcare yakking about their refunds of $5,000 or more and how they are going on a vacation or getting a new iphone, laptop, car, shopping spree...blah, blah, blah.....Of course they gotta run to H&R Block to do Rapid Refund because they couldn't possibly wait 2 weeks to get their money....even though Rapid Refund costs additional money and they didn't have two pennies to rub together days before this..... It just bugs me that I've worked my butt off my whole life and I have NEVER gotten thousands of dollars back to blow however I choose and then live off of all this state aide the rest of the year. Sorry.....didnt mean to rant. I am done now.
I will second this!! We always pay in! Same thing we have no children. We even had an additional $10.00 each every week taken out. My old job everyone but me & DH got all that wonderful money! haha, and I watched how they blew through it, no one ever saved a penny. They were all broke by the middle of March and complaining for any overtime! Then they all wondered last year when we bought a new house, a nice used Van fo 8k and all new lawn stuff. they could not understand..hummm, WE SAVED from our pay checks. We did not get so called "free money". These are the people that eat out everyday and me & DH packed a lunch. They would trade off kids SS# to friends and that friend would give then another 2k. This is what is wrong with our country!! people that ABUSE the system. Ok...I am done with my rant
Reply With Quote
  #11  
Old 02-02-2011, 08:30 AM
cillybean83's Avatar
cillybean83 cillybean83 is offline
Daycare.com Member
 
Join Date: Dec 2010
Location: Tennessee
Posts: 543
Default

it's really nice to get a refund, my hubby and i work our butts off all year so we *appreciate* our refund money! I get sick about it too when I see these dumb girls getting all this money and blowing through it on frivelous crap.

As soon as we see how much we will get in a refund, we budget it before the deposit hits our account so we know exactly where it's going...mostly to savings, bills, home repairs...grown up crap...this year we're using a little to go on a vacation to Chicago
Reply With Quote
  #12  
Old 02-02-2011, 08:40 AM
Little People
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by cillybean83 View Post
it's really nice to get a refund, my hubby and i work our butts off all year so we *appreciate* our refund money! I get sick about it too when I see these dumb girls getting all this money and blowing through it on frivelous crap.

As soon as we see how much we will get in a refund, we budget it before the deposit hits our account so we know exactly where it's going...mostly to savings, bills, home repairs...grown up crap...this year we're using a little to go on a vacation to Chicago
cillybean, Good for you!! There are responsible people like you that use the money wisely. I know several people who get all the tax credits and deserve it. I just hate when people have husbands, but they file as seperated so they can get all this money back, they will have 3/4 children and use relatives to use one of their kids to again get more back or they use food stamps to buy crap and junk food or they buy T-bone steaks!! BURRRRR
Reply With Quote
  #13  
Old 02-02-2011, 08:45 AM
Stacy214's Avatar
Stacy214 Stacy214 is offline
Daycare.com Member
 
Join Date: Jan 2011
Posts: 197
Default

Quote:
Originally Posted by Blackcat31 View Post
I don't think I have EVER got $$$$ back......
In my case though, I think it is because both DH and I are self-employed and I have no dependants to claim since they have flown the coop.... But even when they were little, we just never got anything back (a few $$$ for nice dinner out but nothing more...)


(VENT) ...On a side note, this is the time of year I start getting grumpy because I hear all my single moms who get state subsidy paid childcare yakking about their refunds of $5,000 or more and how they are going on a vacation or getting a new iphone, laptop, car, shopping spree...blah, blah, blah.....Of course they gotta run to H&R Block to do Rapid Refund because they couldn't possibly wait 2 weeks to get their money....even though Rapid Refund costs additional money and they didn't have two pennies to rub together days before this..... It just bugs me that I've worked my butt off my whole life and I have NEVER gotten thousands of dollars back to blow however I choose and then live off of all this state aide the rest of the year. Sorry.....didnt mean to rant. I am done now.
I honestly feel this way too....it does bug me. My kids are grown however I may just get a new tax guy this year, ugh. Need to do something different.
Reply With Quote
  #14  
Old 02-02-2011, 09:01 AM
cillybean83's Avatar
cillybean83 cillybean83 is offline
Daycare.com Member
 
Join Date: Dec 2010
Location: Tennessee
Posts: 543
Default

omg dont get me started on food stamps...i want to throw up when i see these girls with 3 kids in the grocery line, getting all brand name CRAP (frozen pizzas, frozen kid cuisines, lunchables, etc etc), then they pull their prada wallet out of their coach handbag (that of course matches their coach shoes and their coach phone carrier that contains their brand new iphone) and out pops the food stamp card!
Reply With Quote
  #15  
Old 02-02-2011, 09:03 AM
Little People
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by cillybean83 View Post
omg dont get me started on food stamps...i want to throw up when i see these girls with 3 kids in the grocery line, getting all brand name CRAP (frozen pizzas, frozen kid cuisines, lunchables, etc etc), then they pull their prada wallet out of their coach handbag (that of course matches their coach shoes and their coach phone carrier that contains their brand new iphone) and out pops the food stamp card!
I hear you, I could go on and on too!!

Last edited by Little People; 03-11-2011 at 04:18 AM.
Reply With Quote
  #16  
Old 02-02-2011, 09:46 AM
newtodaycare22's Avatar
newtodaycare22 newtodaycare22 is offline
Daycare.com Member
 
Join Date: Apr 2010
Location: Maryland
Posts: 664
Default

Aren't taxes crazy...the responses are so varied about refunds/payments owed!

I asked this question because Turbo Tax is showing me a 8400 refund, which I'm ECSTATIC about. I'd be worried that I did something wrong but it seems right because....

1. I had a regular job half the year and paid taxes.
2. DH pays taxes all year (no kids).
3. We bought an Expedition for 7300 dollars (90% business use)
4.I spent 6400 on college tuition.
5. Start up costs (it's my first half year doing daycare)

I know I won't be this lucky next year...sorry to all of you who have to pay!
Reply With Quote
  #17  
Old 02-02-2011, 10:32 AM
cillybean83's Avatar
cillybean83 cillybean83 is offline
Daycare.com Member
 
Join Date: Dec 2010
Location: Tennessee
Posts: 543
Default

i used turbo tax too and got a 7850 refund, if you checked, checked, and double checked, then triple checked, you should be fine

I bought the extra audit protection though, just in case! lol
Reply With Quote
  #18  
Old 02-02-2011, 01:21 PM
ninosqueridos's Avatar
ninosqueridos ninosqueridos is offline
Daycare.com Member
 
Join Date: Jul 2010
Posts: 419
Default

We owe a few thousand...but at least I'm a planner and put money away for it.
Reply With Quote
  #19  
Old 02-16-2011, 10:53 AM
Unregistered
Guest
 
Posts: n/a
Default

I got 7,000 b ack my first year, but now that Im in my 5th year I get bak around 1000.00 or so.
Debbie
Reply With Quote
  #20  
Old 02-16-2011, 01:42 PM
TomCopeland's Avatar
TomCopeland TomCopeland is offline
Business Author/Trainer
 
Join Date: Jun 2010
Location: St. Paul, Minnesota
Posts: 3,032
Default Refunds

A general comment -
Comparing refunds is not useful because everyone's situation is different. If you got a $7,000 refund and I got a $25 refund that doesn't mean that you are better off than I. Maybe I saved money throughout the year that earned interest. Maybe you owe $10,000 on your car and I've paid off my car. And so on.

What matters is how well you are living and how well you are meeting your financial goals (savings, emergencies, retirement, college, etc.).



Join me for my webinar on February 28th "How to Reduce Your Taxes for 2010 and 2011". I guarantee that you will save more in taxes than the cost of the webinar ($25). For more info: http://www.daycare.com/news/taxes/to...d-webinar.html
__________________
http://www.tomcopelandblog.com
Reply With Quote
  #21  
Old 02-16-2011, 02:00 PM
safechner's Avatar
safechner safechner is offline
Daycare.com Member
 
Join Date: Jan 2010
Location: Texas
Posts: 745
Default

I would guess we should get around $2300 this year but I am waiting for 2010 form 8829 from Turbo Tax. Normally, we got more than $2000 since 2004. My husband claims 4 and two kids. My husband used to have claim 0 in 2003 that we only got more than $7000 with two kids. In 2002, we got $6000 with one kid.
Reply With Quote
  #22  
Old 02-17-2011, 06:40 AM
Jewels's Avatar
Jewels Jewels is offline
Daycare.com Member
 
Join Date: Aug 2010
Location: Wisconsin
Posts: 534
Default

This year we are getting $800 back, I got my income down to $8300, husband was claiming 2, and we have 2 children, this year he switched to claiming 0.
Reply With Quote
  #23  
Old 02-17-2011, 08:42 AM
Cat Herder's Avatar
Cat Herder Cat Herder is offline
Advanced Daycare.com Member
 
Join Date: Dec 2010
Posts: 13,068
Default

We are getting $1850 this year, federal and state combined....this is the lowest ever, but we switched stuff around last year so we had more in our pocket during the year.

My tax vent, since I enjoyed the other pp's.... I have had two sets of parents in 5 years "divorce" (paper only) so they would not have to pay in to taxes (exempt) and STILL get refunds, free college, child care assistance and housing assistance.... How is this possible?

I am taxed extra and ineligible for college tuition assistance for being married, creating my own employment while providing a needed service and paying my bills on time?? Really? Grrr..

Tom. I do intend on attending your seminar...
Reply With Quote
  #24  
Old 02-17-2011, 01:21 PM
DCMom's Avatar
DCMom DCMom is offline
Advanced Daycare.com Member
 
Join Date: Jul 2008
Posts: 874
Default

I don't worry about getting a refund ~ I just hope that my quarterly payments cover what they need to, give or take a few $100.
Reply With Quote
Reply

Tags
tax reimbursement, tax return

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 07:24 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