Gift of Time?

[DCMomOf3]

I have been tossing around the idea of giving my parents one week free on their first annivsary with me. It's not in my contract but I really appreciate my newest families and want to do something very nice for them.

If I do give this, anyone know how taxes would work? Do I still mark it on their tax statements as income, of file it as a gift on my taxes?

[Michael]

That's a Tom Copeland question. Sounds like a nice thing to do if you can afford it.

[QualiTcare]

that is VERY nice! not that you asked, but i don't think a week is necessary to be appreciated...that's a lot of money. i'd be thrilled as a parent to get ONE free day, or better yet - evening. maybe a saturday before christmas so everyone could shop. then you could still get paid for the week.

yeah, i'm no help.

[legomom922]

Very nice, but I couldnt afford to do that either. I however do give the day of the childs bday free, and parents do appreciate that. I also sometimes will cook them a meal, or bake them something, and that shows appreciation too with out losing pay. Or another thing you could do is offer to take the child on a fri/sat night to give mom & dad a date night out. There are many things you can do to show them they are appreciated without losing a whole weeks pay.

[DCMomOf3]

I LOVE my newest families and they aren't any better off than I am. They also didn't use any of their free vacation time this year, so I am up a week anyway if you look at it that way.

[MyAngels]

I think this is great if you can do it. One thing to think about is whether this will be a one time thing, or do you plan on doing it each year? If you decide it's a one-time thing you should make it clear when you tell them what you're doing, or else they may think this will happen every year.

[DCMomOf3]

I think this is great if you can do it. One thing to think about is whether this will be a one time thing, or do you plan on doing it each year? If you decide it's a one-time thing you should make it clear when you tell them what you're doing, or else they may think this will happen every year.

That is why I'm considering making it a first year anniversary only present. Like those who give incentives for recommending friends.

[DanceMom]

If there is no exchange of money I wouldnt think anyone would count it. When I give free days etc I dont count it as I am not being paid '

At my first anniversary of being licensed I gave them all $50.00 off. This year I gave them all a week off free but they had to keep their kids home if they had days off ( couldnt be used for sick time or MY vacation )
Also am giving them $25 off each the week of Christmas.

I try and give them all breaks as all of my families struggle a bit financially - when I am able to afford it I give perks...They are all about saving a buck.

If you can do it, its a great idea and they will Love it and appreciate it for sure !

[melskids]

i would assume that it WOULD count. i'm sure its a write off of some sort, like business loss or something, which could be a perk for you come tax time. IDK

[momofboys]

Not sure how it would be taxable - you are not receiving any $$$ for doing so.

On that same note I plan to give the family I provide care for with a free date night. It's admirable for you to give a free week!!! I just could not afford that & I think I would later resent it.

[nannyde]

No

They pay the same 52 weeks a year. No fuss No muss. Money is never discussed.

[Unregistered]

No free days here

I don't charge for sick days or vacation days or holidays, so I don't give them additional free days.

[TomCopeland]

Free Time

If you give parents a free week of care this is not reported as income to you and it doesn't count as a parent expense when they determine their child care tax credit. You can still count expenses for that week (food, supplies, etc) and you still count the hours you worked that week to determine your time-space percentage.