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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 09-24-2011, 10:25 PM
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LittleCrawfishCC LittleCrawfishCC is offline
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Okay, So I have a major question, Here in Louisiana, You can keep up to 6 children at one time, But I have 4 part-timers that come on the weekends, and during the middle of the day while my before/after schools are at school...Am I going to have a problem at tax season, since I will be giving a Form to 5 parents?
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Old 09-24-2011, 10:41 PM
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Welcome to the Daycare.com Forum! I've upgraded your status. You can post freely now.
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Old 09-25-2011, 02:55 PM
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Quote:
Originally Posted by LittleCrawfishCC View Post
Okay, So I have a major question, Here in Louisiana, You can keep up to 6 children at one time, But I have 4 part-timers that come on the weekends, and during the middle of the day while my before/after schools are at school...Am I going to have a problem at tax season, since I will be giving a Form to 5 parents?
Shouldn't be a problem. I generally always have children that share spaces - all that licensing is generally concerned with are children on site at any given time. As far as taxes it won't be an issue:-)

And with children in your home on weekends too - that's going to push your time/space % very much in your favor
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Old 09-26-2011, 05:48 AM
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That is good to know, I am soooo confused about all these things with taxes and time/space %...and write offs and all...I a trying to keep receipts of everything...I REALLY hope my tax person/bookkeper knows what he is doing, Hopefully he will because my husband works offshore and he has been dealing with his crazyness for 9 years.
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Old 09-26-2011, 01:54 PM
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As long as you report the income from these children, you won't have a problem with the IRS, since you are in compliance with state law. As long as you are in compliance you can deduct all normal business expenses.
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