Taxes
A question I regularly receive is about the childcare tax deduction. In order to take the tax deduction you will need either a business tax identification number or a personal tax identification number (social security number). Many in-home daycares do not provide you with one of these numbers which means you cannot take the deduction. It also means you are actually paying much more than the base price because you are unable to take the tax deduction at the end of the year (i.e. if you are paying $125 weekly but loose out on $3,000 in child care tax deductions you are really paying $182.69 weekly).
At Miss Tricia’s Daycare we believe in being completely upfront. At the end of the year you will receive a statement that has the tax identification number you need along with how much you have paid throughout the year. This should make taking the childcare tax deduction very easy for you.