Does Everyone Claim Taxes

[MommyofThree]

I have found that it's in my best interest to claim my income. I have so many deductions that I've rarely had to pay anything.

It doesn't matter whether or not the parents tell you that they are going to claim you or not, they have that right. They can even file without your SS#.

how can they file without the ss

[sharlan]

I believe that there is a form that they can file stating that you refused to provide the SS#.

[Blackcat31]

how can they file without the ss

The IRS web site says "If you do not provide information regarding the care provider, you may still be eligible for the credit if you can show that you exercised due diligence in attempting to provide the required information."

Many times providers will with hold their EIN or SS #'s if the parent still owes them money. Many providers think that stops a parent from being able to claim what they did pay.

[sharlan]

I also found that it's a $50 fine.

[Meyou]

I am ALWAYS full, all full-time, and I have never earned enough to have to pay.

Check out Toms thread/forum.... he goes over this stuff quite a bit.

After all the meal deductions, time space, supplies, etc... I get a hefty refund every year.

Me too.

[Sunchimes]

Ok, here's my advice. I've just been doing this for 10 months, but I have been running my own business since 1980. Pay your taxes, don't worry about what anyone else does.

If your spouse works and has taxes deducted, you probably won't owe anything for your part. If not, then you need to pay quarterly-every Jan 15, April 15, June 15, and September 15. There is still time to pay the Jan payment and possibly avoid penalties in April. If you can't send them, say 15% or 18%, don't worry about it. There will be penalties, but you can deal with that then. Make a payment plan if nothing else. Just be sure your tax person sets you up with a 1040 ES system for 2012.

Second, buy Tom's books. http://www.tomcopelandblog.com/toms-books-.html Best thing I ever did. I suggest this order.
1. Family Child Care Record Keeping Guide It is the basics and tell you what deductions you can take, how to figure time/space (which is vital--underlined, highlighted, and bolded!)

2. Next best is the Family Child Care Tax Companion, if you are having someone else do your taxes. Child care taxes are a whole other ball game from most businesses. This has pages that you can fill in and give to your tax person. Then, use the info to double check the tax person's work to be sure they didn't leave anything out. I'm giving the Record Keeping Guide and the Tax Companion to my tax person when I give them my paperwork. Just so she will know what's going on in child care.

3. I'm not on a food program and I use the Redleaf Calendar Keeper for my records. I adore it!! http://www.redleafpress.org/Redleaf-...P579C1047.aspx

3. Get an employer identification number-EIN. Get it at irs.gov. It's easy to get online (or you can do it by phone), it's free, and you never have to give parents your SS# again.

If you do your own taxes, get the Tax Workbook and Organizer.

Tom wrote a blog post about receipts, etc

http://www.tomcopelandblog.com/2012/01/it-is-the-time-of-year-when-parents-ask-family-child-care-providers-for-two-things-your-identification-number-and-a-receipt.html

I'm certainly not an expert on child care taxes, but I've been a business owner for a long, long time and have learned a thing or two. The first thing is to listen to the experts. In this case, that would be Tom Copeland. Go to the taxes forum here and read back through old posts. Go to Tom's blog and read back through old posts. http://tomcopelandblog.typepad.com/t...ds-taking-car/
Ask questions here, but in the tax forum. Tom checks that regularly and will answer our questions, bless his heart.

[Nellie]

Ok so she I tell parents to pay then even if they don't come like on holidays.? Does anybody who claims only have parents pay when they are there, thanks

I file taxes even though the parents only pay when there child is in attendance.

[Breezy]

I have not had to claim anything yet as I do not make enough in my state to have to.