Daycare.com Forum Force of Nature Disinfectant

Go Back   Daycare.com Forum > Main Category > Daycare Center and Family Home Forum

Daycare Center and Family Home Forum Daycare Center and Family Home owners, Directors, Operators and Assistants should post and ask questions here.

Reply
 
Thread Tools Display Modes
  #1  
Old 12-03-2014, 05:22 PM
Unregistered
Guest
 
Posts: n/a
Default Taxes in a Home Daycare?

I'm considering opening up a licensed home daycare. I've looked into many of the rules and regulations so far, but my concerns are mostly with the cost of operation and legal matters. I live in SW FL and things are expensive here. I've looked up liability insurance and it runs on avg 800/yr for 8-10 kids. Does that seem right to you? Also, I'm wondering how taxes are done. I've been told by family that I have to choose a business name and file separately as a small business and submit paperwork 4x a year for a home daycare. Is this true? Any info you can give me about the legal rundown of a home daycare would be GREAT. Thanks!
Reply With Quote
  #2  
Old 01-14-2015, 01:36 PM
TomCopeland's Avatar
TomCopeland TomCopeland is offline
Business Author/Trainer
 
Join Date: Jun 2010
Location: St. Paul, Minnesota
Posts: 3,033
Default new provider

Quote:
Originally Posted by Unregistered View Post
I'm considering opening up a licensed home daycare. I've looked into many of the rules and regulations so far, but my concerns are mostly with the cost of operation and legal matters. I live in SW FL and things are expensive here. I've looked up liability insurance and it runs on avg 800/yr for 8-10 kids. Does that seem right to you? Also, I'm wondering how taxes are done. I've been told by family that I have to choose a business name and file separately as a small business and submit paperwork 4x a year for a home daycare. Is this true? Any info you can give me about the legal rundown of a home daycare would be GREAT. Thanks!
I just saw your post. The cost for liability insurance you cite is not unreasonable. Look at my insurance directory to get more quotes: http://www.tomcopelandblog.com/famil...directory.html

You are not required to get a business name and file separately. Most providers don't have a business name. You are almost always better off filing jointly with your husband. You fill out several business tax forms and include them when you file your joint 1040. Most provider don't pay estimated taxes quarterly. Instead, their husband has enough withheld from his taxes to cover her taxes.

See my blog for lots of articles about the business of family child care: http://tomcopelandblog.com/
__________________
http://www.tomcopelandblog.com

Last edited by Michael; 01-14-2015 at 02:26 PM.
Reply With Quote
Reply

Tags
daycare costs, liability insurance

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

Similar Threads
Thread Thread Starter Forum Replies Last Post
List Of Paperwork In A Home Daycare Filing Cabinet Clara Daycare Center and Family Home Forum 17 04-18-2017 09:25 AM
Daycare Home Set Up missT Daycare Center and Family Home Forum 8 02-28-2014 12:37 PM
Listed vs Registered Home Daycare fairymama Daycare Center and Family Home Forum 2 01-29-2013 02:37 PM
Help Me Translate 5 Years Center Experience to in Home Daycare bluemoose_mom Daycare Center and Family Home Forum 5 04-27-2012 11:02 AM
Opening a Home Daycare Center Unregistered Daycare Center and Family Home Forum 6 05-17-2011 12:59 PM


All times are GMT -7. The time now is 10:08 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