Finally Got My First Fulltime DCG But......

[mrsp'slilpeeps]

So what do i do about the parents that have never asked me for reciepts?

And if I made over my basic personal amount, will i owe the government now?

Im really confused now.

[Meyou]

So what do i do about the parents that have never asked me for reciepts?

I just give them to everyone and claim everything. What they do with it doesn't really matter.

[wdmmom]

So what do i do about the parents that have never asked me for reciepts?

And if I made over my basic personal amount, will i owe the government now?

Im really confused now.

By law, you are required to give DCP's a end of year receipt showing what they paid you in full along with an EIN or SSN.

What they choose to do with it is up to them. (Some parents can claim it, others can not.)

You are required by law to report any and all of your earnings to the IRS.

[littlemissmuffet]

So what do i do about the parents that have never asked me for reciepts?

And if I made over my basic personal amount, will i owe the government now?

Im really confused now.

You are required to give and end of year tax receipt - what the client does with it is their own choice.

You are operating "under the table" - and illegally.

If the government found out and audited you (and questioned your clients), you would indeed owe the government.

[countrymom]

How do they claim childcare with out my SIN?

Then everyone could write their own reciepts!

nope, as long as you have written proof you don't need to give anyone your sin number. When I right out my reciepts I write my company name, that its for daycare and the amount. I do double reciepts. They can write their own reciepts all they want, but when they get audited they are going to have to prove those reciepts. No one should ever ask you for your sin number. Its on the website for taxes too.

[countrymom]

sure you make over your amount, we all do, but once you start adding in all your deductions, it brings your total down. My tax guy said as long as you claim a gain every once in a while is fine, you cant claim a loss every year.

[Blackcat31]

By law, you are required to give DCP's a end of year receipt showing what they paid you in full along with an EIN or SSN.

What they choose to do with it is up to them. (Some parents can claim it, others can not.)

You are required by law to report any and all of your earnings to the IRS.

Just wanted to clarify that by law you are only required to give parents your EIN (or SS#) when requested (using a W-10). We are NOT required by law, to give them any form of receipt with yearly totals of what they paid to us. Most providers do as a courtesy or because it is easy if you use MMK, but it isn't required by law.

IMPO, if they want to get the deduction, it is their respnsibilty to keep track of the total, I do supply a written receipt with each payment made to me. but the only place I report my yearly totals to is the IRS.

[mrsp'slilpeeps]

happyface

Ok I have written up reciepts for all of my DC parents for 2011.

Just waiting for one mom to call me back and make sure our numbers match.

I talked to my neighbour who runs and unlicensed dayhome too, and she said she gives parents reciepts every month, no SIN.

She said what they do with them is their problem. But she claims her earnings and gets to write off about 40% of everything.

Ya'll had me soiling my shorts for a while.

A year ago I went to H&R block and the guy told me I could not claim anything, not a single thing.
I owed alot of money.

I called an accountant today and she helped me figure this all out. She said the H&R dude was probably lazy.

Thanks ladies lovethis