Forum Daycare Forum

Go Back 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.

Thread Tools Display Modes
Prev Previous Post   Next Post Next
Old 04-17-2019, 01:01 AM
Vanka's Avatar
Vanka Vanka is offline Member
Join Date: Apr 2019
Location: California
Posts: 6
Default Tax Return Example

Hi everyone,
I am having a bit hard time understanding what taxes in home daycare providers pay.
I have searched the internet without luck, so maybe anyone can give me an example of how the whole tax system works.
Let's say I am married, filling jointly in the state of CA.
For the sake of simplicity let's say, the revenue from my daycare is 100k and my husband works and gets a salary of 100k.
Let's say I have calculated all my business related expenses which amount to 20k, so I am left with 80k taxable income.
Questions 1
I pay 15,3% self employed tax on the 80k. Right?
Question 2
I pay 24% federal tax on the 100k revenue? Or is this 24% also on 80k???

Question 3
Any other taxes I have to pay?? Any specific state taxes?
If you can share your own examples that would be great.
Thank you!
Reply With Quote

deductions - list, tax advice, tax returns, time space percentage

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not 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
I Am Sick Of Sick Kids Coming In mickey2 Daycare Center and Family Home Forum 26 02-01-2018 01:28 PM
When To Return? daycare Daycare Center and Family Home Forum 2 02-03-2017 03:53 PM
Pink Eye... Return day Little Star75 Daycare Center and Family Home Forum 3 03-06-2013 07:30 PM
Has Anyone Gotten Their Tax Return Yet? wdmmom Daycare and Taxes 11 02-12-2013 03:55 PM

All times are GMT -7. The time now is 12:49 AM.         Find A Daycare         List Your Daycare         Toys & Products                 About Us
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