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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 04-21-2012, 04:07 PM
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EMC2 EMC2 is offline
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Default Tax ID or EIN

We have a residential daycare with my wife as the sole owner/employee. Do we need a TAX ID or EIN? Or should we get one anyway just in case we hire an assistant?

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Old 04-21-2012, 04:15 PM
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Michael Michael is offline
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I presonally would go for and EIN as you proposed for your business' potential growth. Here are some threads on EIN: https://www.daycare.com/forum/tags.php?tag=ein
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Old 04-21-2012, 09:42 PM
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I got one right away, they are very very easy to apply for. At the end of the year when you give families their statements for taxes (so they can claim their child care expenses) you'll want to be able to give out the ID Number instead of your own SSN!!
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Old 04-22-2012, 11:08 AM
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MarinaVanessa MarinaVanessa is offline
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I agree, an EIN is the way to go.
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