Childcare Expenses
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FSA Account for Daycare Expenses
Asked by M.C. from Houston
on September 29, 2009
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I'm interested in beginning a FSA account to cover childcare expenses but am not entirely sure how it works. If anyone out there uses one and can provide an overview ...
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- The benefits of a FSA account is to reduce your taxable income. However, you're allowed to claim child care expenses in your tax reporting at the end of the year. I gu...
- I havn't read your other responses so you might already have this. FSA is a great program but it does have a downfall. The way it works is you agree to contribute so...
- Hi M., FSA account is a great program. I used it the entire time my children were in daycare and daycamp. They are 8 and 9 years old now :( How the program works is, y...
How Much to Pay Childcare Provider
Asked by S.H. from Chicago
on January 2, 2007
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I am trying to find information on how much to pay my child care provider. My son is 6 months old and will be starting at a woman's home in a couple weeks. She has n...
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- I am surprised she isn't setting the rate for you. When my son was an infant and I checked into daycare centers, they were charging between 190-250 a week 3 years...
- My son goes to an at home non-licensed day care 4 days a week. We pay a flate rate of $25 per day. If he misses one day we still pay her the full week rate, but if he ...
- Hi S., We would pay $278 a week for an infant at our center. I did look at an in-home place and the charge was about $200 a week. My friend in Schaumburg pays $15...
Seeking Info/advice on Flexible Spending Acct. for Childcare Expenses
Asked by K.O. from Dallas
on November 12, 2007
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Hello,
Since I just started back to work recently and we have our little one in daycare, my husband and I are contemplating enrolling in the Flexible Spending Acct....
Answers
- If you spend a lot on childcare then the FSA will probably be better than using the tax credit. The way you can figure out how much you'll save is by crunching the nu...
- I guess it depends how much you spend on childcare. I max out our flexible spending account (which is $5000, I think) and that is money that is not taxed. On my fede...
- Hi K., I asked our tax guy the same question! It's the same as claiming it on your taxes at the end of the year. Of course, it may be different if you're in a diffe...
Childcare Expenses and Taxes
Asked by N.K. from Chicago
on August 11, 2007
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When I return to work this fall (I'm a teacher) my 6 month old son will be staying in our home with a babysitter. I "assumed" that the money we will be paying the baby...
Answers
- N., My husband is a teacher and I am starting up my own in-house daycare as we speak. I know that the money is tax deductible, yes! You have to keep track of what you...
- I'm a teacher and we are able to do the childcare/flex spending option in our district.
- With having a nanny in your home, it IS typically a lot more costly and complicated (besides his being able to stay at home daily :) ) than taking him to a center or ...
Is Childcare Tax-Deductible?
Asked by A.D. from Dallas
on October 10, 2006
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I was talking to my cousin today and she mentioned that in certain instances, childcare expenses are tax-deductible -- and the level will actually differ with the numb...
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- Does anyone know if a facility a actual Day school, has to provide tax reciepts, my DD was at a home care timm a couple on months ago and the lady always gave us a re...
- I am a childcare provider and my parents deduct me every year. hope this helps.
- Every year the deduction I get from childcare is a huge blessing. There is a cap on how much you can deduct. I receive a letter from my daycare every year that shows...
Looking for Part Time Childcare
Asked by T.H. from Philadelphia
on October 5, 2009
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ok- I am currently a SAHM and we have found ourselves in a financial bind where I am going to need to go back to work. I did find a part-time job (about 15 hrs a week...
Answers
- are you anywhere near phoenixville? if so, try charlestown playhouse. my son ABSOLUTELY LOVED it there for 3 three years and it's cheap (you or someone else in your ...
- Visit www.care.com I also sent you a private message. No way would I ever pay that much money for childcare. Never! I do agree with Denise though. Maybe work when yo...
- Check out www.sittercity.com. I am registered on there. L.
Ideas to Cut Back Expenses to Be Able to Be a Stay at Home Mom
Asked by A.P. from San Angelo
on April 8, 2009
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I have a 17 month and a 2 and 3/4 year old. My two year old is in daycare and my baby has a nanny. The nanny will be starting school and when my baby is 18 months he w...
Answers
- Write down all your expenses for the next month or two. Categorize them and start looking for places you can cut costs. Then start saving. Even if you can't afford ...
- Not having to pay your nanny and day care may be more of a "raise" then you think
- Hi there, Actually, it might help you to quit working. People don't take into account all the "little" expenses that you have when you work. First of all, it migh...
Looking for Advice on Childcare in Chicago, IL
Asked by R.Y. from Chicago
on February 24, 2006
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I am very concerned about childcare after the maternity leave. I do not have family in the city and I make too much for state aid but not enough for a nanny. Please ...
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- HI R., I am also 27, mother of a 6 year old, and of course is not easy, but I will try to find a number for you for someone who may be able to help you out once you...
- Hi Are you looking for someone to come to your home? A drop off or an in home daycare? I know of a few of each- so just let me know...I sympathize with you- good ch...
- R., I'm a childcare provider but i live in oak Park. Where in chgo do you live. If the father doesn't want to be there for the baby he still has obligations. There is...
*Emergency* Please Give Your Opinion /Advice on Work & Childcare for My 2 Kids.
Asked by G.S. from Atlanta
on May 18, 2009
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Hello Moms,
I live in Henry county and I am in a tight spot. Me and my husband have a home based business, but because of the economy sales are few and far between....
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- Sending your children away is not even an option. Move whereever you must to survive. Apply at stores/places wanting someone to work nights if hubby has to have the 9...
- First off, do you mean you would have to send them to another country or county? I don't know of another county that is a 19 hour flight so I am assuming you mean cou...
- I am so sorry to hear about your situation G.. I have been in that same predicament but I am a single parent so I had no one else to help me with my 2 daughters, who ...
Paying Taxes If You Are a Nanny or Childcare Provider
Asked by K.C. from Chicago
on March 20, 2008
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I was wondering if anyone knew of any website regarding being a nanny or household employee and what taxes had to be paid. I wasnt sure if I could just claim it mysel...
Answers
- Hey K., Since you asked about being a nanny OR childcare provider. Not sure which info you really need more about. But as a daycare provider in your own home, y...
- I am a home day care provider and I just filed with H&R Block. It is not hard. But if your home is your business, make sure to save all of your household bills, groce...
- Well - I don't know of any websites....I looked far and wide and eventually just had to ask another home daycare provider to mentor me with my taxes. Now, I've got it...
