Legally Unlicensed-How Do Parents Claim It On Taxes?

[NikaGeorgia]

Hello!

I am starting the process of setting up to start child care in my home a few months from now, and plan to be (legally) unlicensed as I am just taking on a couple kids. I am new to this though as far as doing it from home and not sure what I need to supply the parents for tax purposes? I saw on another post I would use a w-10 it looks like?
Thank you!

[Thriftylady]

Hello!

I am starting the process of setting up to start child care in my home a few months from now, and plan to be (legally) unlicensed as I am just taking on a couple kids. I am new to this though as far as doing it from home and not sure what I need to supply the parents for tax purposes? I saw on another post I would use a w-10 it looks like?
Thank you!

While you can use a W=10 you don't have to. I print up a year end receipt and have them sign a copy, I sign it make a copy and give them the copy. You can require that parents give a a w-10 first but I don't for a parent in good standing. Also go to IRS.GOV and get a free EIN so you don't have to give your SS#. Much safer. It is free so if you end up on site charging for it, you are in the wrong place.

[Thriftylady]

Also keep track of daycare expenses and home expenses and repairs for your taxes. Those deductions add up!