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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 12-08-2011, 12:04 PM
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Default 1099-g?

So I'm just going over some of the stuff in Turbo Tax home and business, and since this is my first year in daycare, will I receive one of these forms? It is supposed to be for payments from the government, and I do receive money for 2 children, as well as the food program. So should I expect one of these forms in the mail?
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Old 12-08-2011, 01:42 PM
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Yes. I don't know if it is G, but I do know you should get a 1099. You should recieve it by January 31st.
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Old 12-08-2011, 03:00 PM
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Default 1099

Some Food Program sponsors will issue a Form 1099 to providers. Most don't. If you are going to get one, you will get it before 1/31/2012. Tom
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Old 12-08-2011, 03:18 PM
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So I will get one for the child care payments, but maybe not for the food program?
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Old 12-09-2011, 08:51 AM
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Yes.

I have always recieved one for subsidy clients, but never from the food program.
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Old 12-09-2011, 08:56 AM
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Thanks for the info!
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Old 12-09-2011, 02:25 PM
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Quote:
Originally Posted by KEG123 View Post
So I'm just going over some of the stuff in Turbo Tax home and business, and since this is my first year in daycare, will I receive one of these forms? It is supposed to be for payments from the government, and I do receive money for 2 children, as well as the food program. So should I expect one of these forms in the mail?
It depends how you get paid. Utah has all it's government money processed through JP Morgan and Assoc. and put automatically in the providers bank account on the first of each month in advance for that month. You have to enroll for the service and they have you fill out forms so they can take care of the tax side of it and report it for you. Some states pay differently and you have to file differently.

I would call a tax expert to make sure! (Turbo Tax and H&R Block at Home should have online help for free)

Just for your info. I have used both Turbo tax and HR Block. Both seem to work about the same. But unless things have changed in the last year or so, Turbo tax is notorious for being difficult when it comes to changing computers. For example, let's say you have it installed on your desk top and decide you want to work on it in another room on you lap top. Ain't happening! If you need info from two years ago and want to re-install it,,,but you have a new computer since then...forget it. These problems don't happen with HRB. I have never HAD a problem with Turbo Tax, but we use HRB now. The TT problems were all over the media a few years ago. I may be behind the times (it's me after all!!) and they may have fixed it now tho....
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Old 12-10-2011, 07:21 AM
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Originally Posted by Meeko60 View Post
It depends how you get paid. Utah has all it's government money processed through JP Morgan and Assoc. and put automatically in the providers bank account on the first of each month in advance for that month. You have to enroll for the service and they have you fill out forms so they can take care of the tax side of it and report it for you. Some states pay differently and you have to file differently.

I would call a tax expert to make sure! (Turbo Tax and H&R Block at Home should have online help for free)

Just for your info. I have used both Turbo tax and HR Block. Both seem to work about the same. But unless things have changed in the last year or so, Turbo tax is notorious for being difficult when it comes to changing computers. For example, let's say you have it installed on your desk top and decide you want to work on it in another room on you lap top. Ain't happening! If you need info from two years ago and want to re-install it,,,but you have a new computer since then...forget it. These problems don't happen with HRB. I have never HAD a problem with Turbo Tax, but we use HRB now. The TT problems were all over the media a few years ago. I may be behind the times (it's me after all!!) and they may have fixed it now tho....
Well I only use a desktop, so no worries there. I also do not use the debit card, just get checks.
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