OT: Question on Side Business

[frugalmama4]

Happy New Year all!!

Quick question:

Would you advertise to your daycare families that you also do Taxes??

I have been doing taxes for the pass 6 years are so, families and close friends. I decided to go ahead and make this a real side business this year. I took an H&R Block course in order to gain more knowledge "but real to get hired on for this coming tax seasons to bring in more $$".

So would you let your parents know?? This will in no way interfere with the day-to-day daycare operations. I don't expect anyone to use me, just want to put it out there that I do more then diaper changes.

Thanks for any feedback!

[daycare]

I personally would not, because then you would know all of their financial issues, which may create more issues in the future.

I had a DCM that was a big time CPA and she offered to do my taxes for free. I thought about it, but then realized that I really didn't want her knowing my financial situation. It was just better that we left things strictly daycare business related between us.

Not sure if your parents would want you to see how much they do or don't make. Especially seeing how they pay you

[Laurel]

I personally would not, because then you would know all of their financial issues, which may create more issues in the future.

I had a DCM that was a big time CPA and she offered to do my taxes for free. I thought about it, but then realized that I really didn't want her knowing my financial situation. It was just better that we left things strictly daycare business related between us.

Not sure if your parents would want you to see how much they do or don't make. Especially seeing how they pay you

[MyAngels]

They could help spread the word about your new business, but it could also backfire and cause them to question your commitment to your primary business. I ran a pretty lucrative side business for several years and never once mentioned it to any current clients. One of my clients at the time found out about it from a mutual acquaintance and asked me how long it would be before I shut down for my new career . I had to explain that I had no intention of changing careers anytime soon, I just needed to supplement my income. It was pretty uncomfortable to say the least.

[Scout]

I also would not. I think it would be a conflict of interest of sorts due to the fact that their financial situation affects your finances. I do not even like that my husband's BIL does ours, but, it's free. It has always made me uncomfortable to know he knows how little we make.

[kathiemarie]

I personally would not, because then you would know all of their financial issues, which may create more issues in the future.

I had a DCM that was a big time CPA and she offered to do my taxes for free. I thought about it, but then realized that I really didn't want her knowing my financial situation. It was just better that we left things strictly daycare business related between us.

Not sure if your parents would want you to see how much they do or don't make. Especially seeing how they pay you