What Do Parents Need?

[jenboo]

This is my first year doing taxes...Im super nervous that Im not doing everything I should be. I have all my receipts, but im not sure what I need to do with them.
Also, I have recorded all the tuition the parents pay, but what exactly do I need to give the parents for their taxes??
I do have a guy that is doing our taxes but im not sure what he will be needing from me.

Any help would be grateful!

[melilley]

I just gave them a W-10 and put the total at the top, with my EIN. If they need anything else, I told them to ask.
As for the rest, I have MMK.

[jenboo]

So for the w-10 I just fill out my name, address and EIN? thats it

[jenboo]

So for the w-10 I just fill out my name, address and EIN? thats it

[melilley]

So for the w-10 I just fill out my name, address and EIN? thats it

That's what I understand! Some people do not give their parents a W-10. They just write it out.

[mountainside13]

This year I gave everyone a w-10 at the top I wrote: Year to date amount paid: $xxx and highlight that part. Then fill out your name address and EIN or Ssn. I also have a parent/provider receipt form. Says how much they paid, then the parent signs agreeing to the amount that they paid so they can't try to claim that they paid me more than they actually did. I keep half and the parent keeps half. I also give them a copy of every receipt.

If you need the form I can send it to you.

[jenboo]

This year I gave everyone a w-10 at the top I wrote: Year to date amount paid: $xxx and highlight that part. Then fill out your name address and EIN or Ssn. I also have a parent/provider receipt form. Says how much they paid, then the parent signs agreeing to the amount that they paid so they can't try to claim that they paid me more than they actually did. I keep half and the parent keeps half. I also give them a copy of every receipt.

If you need the form I can send it to you.

I have a form that I use to log their payment and will have the sign it at the bottom today. Ill keep a copy and give them one.
Do they need copies of receipts?
When you make copies, do you one receipt per page or as many as you can fit on a page?

[mountainside13]

I have a form that I use to log their payment and will have the sign it at the bottom today. Ill keep a copy and give them one.
Do they need copies of receipts?
When you make copies, do you one receipt per page or as many as you can fit on a page?

I over do it and I'm sure there is an easier way to do it I just haven't changed how I do mine. I use a receipt book that I fill out every week. Then at the end of the year I take them all out separate them into groups. Like 1 group of receipts for 1 child then another group for me of that 1 child. So total 12 groups. Add up every ones putting them in to different envelopes, then fill out the forms.

[TomCopeland]

parent receipts

Here's an article I wrote about giving parents receipts:http://www.tomcopelandblog.com/2014/...a-receipt.html