Brand New Daycare: Where Do I Start?!

[Christina72684]

I opened my daycare a month ago and have no clue what to do as far as payroll and taxes. My mother and I own the business, and we have one person that works for us. She knows we don't have a lot of money yet and said we could wait until the end of the month to pay her, but that time's almost here!

What's the best way to do payroll? Should we hire a tax person or can we handle it on our own? Do we need to get a program and do they cost? What's best? I'm completely clueless and know I shouldn't have waited until the last minute, but things have been hectic!

I appreciate any and all information I can get! Thank you so much!

[Michael]

Start here: http://www.daycare.com/forum/tags.php?tag=taxes

[TomCopeland]

Here's a summary article about your tax responsibilities as an employer: http://www.tomcopelandblog.com/2011/...-employee.html

You may want to hire a bookkeeper or tax professional to get you started on the right foot with employees. There's a lot to learn.