Friday, January 27, 2012

I am starting an in home daycare. I will be reporting all income on taxes but curious how it works? -

My husband says that I will have to pay in on my taxes ~ I plan on reporting all income made but am curious from others with experience. Do you have to pay in? What types of things to you claim as business expenses? Thanks ; )

What type of daycare are you providing? Is it for aged persons? Or Children? Or Disabled people?You will need a special licence as you cannot just look after people becuase you feel like it. Even a daycare for pets requires special Local Council permissions and Permits.You need to apply for a Permit from your local Council before you get too far ahead of yourself.

you need an accountant and do your taxes every 1/4 so that it cuts down on what you have to pay in and a accountant will be able to help you know when to spend money to keep taxes down everyone pays in when running a business but an accountant can help you keep it low

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