Tax Statements - How Many Of You Give One To The Parents?

[SunnyDay]

I print out w-10's from my MMK that have the total and my EIN. Quick and simple.

This is what I did, it was super easy! I have a lot of parents who are first time parents and new to child care, so I wanted to make sure they had all of the information they needed, since some did not realize that child care might be tax deductible. I think it helps them realize the value of using a licensed/tax law abiding child care, as well

[jokalima]

I do a W-10, if they want a $ amount, they have to wait for me to do my totals, and then I remind them that I give it to them as a courtesy, as I am not required to do so. It annoys me at people's irresponsibility with this as well.

I also have ONE family (here for 3 years) that don't even ask me for anything (they save the ein from previous years return). She asks to make sure our totals are the same, they always are.

If I do a W10 and don't have my tax ID available, do I have to fill out the ss # part?

[Blackcat31]

If I do a W10 and don't have my tax ID available, do I have to fill out the ss # part?

I would be inclined to say yes.

Why don't you have your EIN # available? Do you have one?

If you lost it, you could simply look on your last years tax returns and get it off there. You could also just call the IRS number and I am sure you could find out how to get it.

If you don't have one, you can get one immediately on-line.

[jokalima]

I have one, just can't find it right now and looked in to last years tax returns and the accountant used my ss so is not there. A parent just texted me they need the # ASAP and I dont want to give out my social.

[Blackcat31]

I have one, just can't find it right now and looked in to last years tax returns and the accountant used my ss so is not there. A parent just texted me they need the # ASAP and I dont want to give out my social.

Try here: http://www.irs.gov/Businesses/Small-...ed-Your-EIN%3F

It should give you instructions on how to find it.

If you already gave the mom a W-10, I certainly wouldn't rush to give the information to her again.

If you never did give it to her, I would simply tell her she will need to wait until you locate it.

I use MMK and it is on the top of all the statements I print out for parents

[MarinaVanessa]

How many of you are handing out tax statements to their parents? Not just the daycare provider tax number, and info, but also a detailed statement with all the fees paid and when?

I give my parents a receipt each time they pay and on my handbook I say to keep the receipts for tax purposes, meaning that I expect the parents to filed them instead of throw them away, or loose them.

I just give them my IEN number at sign up together with the packet and that's it...

Still here we go, each family, other than one (the one I have never had problems with...) asking for a statement...

How do you do it?

I use MMK with the ChildCarePay option and I set up an account for ALL of my clients, even if they don't use it. I print out W-10s at the beginning of the year for them which has the total amount that they paid but I don't print out detailed statements for them. If they want detailed statements they can log in to ChildCarePay and print out their receipts from their. I also don't hand out receipts, they print those out themselves from ChildCarePay too.

I do this to save time, ink and paper.

[KnoxMom]

I have one, just can't find it right now and looked in to last years tax returns and the accountant used my ss so is not there. A parent just texted me they need the # ASAP and I dont want to give out my social.

Just call the IRS for your EIN. Here is the link to the page: "Lost or Misplaced Your EIN?" http://www.irs.gov/Businesses/Small-...ed-Your-EIN%3F

[KnoxMom]

W-10, EIN, and total at the beginning of the year

[sammie]

I have one, just can't find it right now and looked in to last years tax returns and the accountant used my ss so is not there. A parent just texted me they need the # ASAP and I dont want to give out my social.

Call the IRS. They will ask you a few questions and then give it to you over the phone. I did this at the begining of the year.

[Meeko]

Since at the end of the year I have what each parent paid me for the whole year this is no big deal for me at all. All I do is write on my normal receipt the following:

1-1-12 through 12-31-12 Jane and John Doe paid $XX for the care of Johnny. Year end receipt. Then I sign it and put my ein number.

That's it. Very simple

I do the exact same thing. I also give them a W10.

But I don't do full statements showing every single payment.

I also give it out ONCE. One year, I did it about three times because parents kept losing the info. I put a $10 fee on every extra copy and they somehow managed to keep track of them after that!

[AmyKidsCo]

I use Minute Menu to track my payments. From there when I print the W-10's at the end of the year it includes the total amount paid for the year. I do not provide detailed statements unless specifically requested. The only time I have been specifically requested is for Flexible Spending Accounts.

I do the same thing - receipts for each payment and the MMK W-10 at the end of the year. Tom Copeland says we don't have to do the W-10 unless the parents ask for it, but I do - I have them initial the amount then make a copy for their records and keep the one they initialed.

[EntropyControlSpecialist]

I use MMK with the ChildCarePay option and I set up an account for ALL of my clients, even if they don't use it. I print out W-10s at the beginning of the year for them which has the total amount that they paid but I don't print out detailed statements for them. If they want detailed statements they can log in to ChildCarePay and print out their receipts from their. I also don't hand out receipts, they print those out themselves from ChildCarePay too.

I do this to save time, ink and paper.

This, exactly.

[PhilEH]

Using Child Care Management Software for Parent Tax Statements

Using child care management software will allow you to easily print tax statements for families. Some, like Procare Software, offer the option to print detailed statements showing every transaction throughout the year or an end-of-year summary (with totals only) just for tax purposes.

[MarinaVanessa]

Using child care management software will allow you to easily print tax statements for families. Some, like Procare Software, offer the option to print detailed statements showing every transaction throughout the year or an end-of-year summary (with totals only) just for tax purposes.

MMK does this also, which I use. I just choose not to print out detailed payment statements when clients can keep track of their payments or can print out their own receipts and logs themselves by logging in to their accounts. It just saves me time, paper, ink and hassle. Now I suppose if they wanted an emailed PDF then I could do that but I've never had anyone ask before.