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Do I Have to File Quarterly Taxes as a Daycare Provider?

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  • Do I Have to File Quarterly Taxes as a Daycare Provider?

    I've only had my license since February of this year, and I'm extremely confused about the whole business taxes deal. Do I follow them quarterly or yearly?

  • #2
    estimated taxes

    Originally posted by LadyK8 View Post
    I've only had my license since February of this year, and I'm extremely confused about the whole business taxes deal. Do I follow them quarterly or yearly?
    Most provider who are married don't file quarterly, because their spouse has enough withheld to cover taxes for both. Here's an article I wrote on this:http://www.tomcopelandblog.com/2014/...-business.html
    http://www.tomcopelandblog.com

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    • #3
      I'm not married. Is this a problem? I clearly missed the deadline.

      Thank you, Tom.

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      • #4
        My sis has her own Housekeeping business and is single. She gets a return, how ever she still pays into social security. (Her client provides the supplies and she opts out of extra insurance, so she has less to deduct than you would think)

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        • #5
          estimated taxes

          Originally posted by LadyK8 View Post
          I'm not married. Is this a problem? I clearly missed the deadline.

          Thank you, Tom.
          You will probably pay a penalty for not paying in at least 90% of the taxes you owe each quarter of the year. Go ahead and send in the 3rd quarter form (Form 1040ES) that was due September 15th. Paying late is better than not paying at all. You will owe about 20% of your gross income in taxes.
          http://www.tomcopelandblog.com

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          • #6
            Thank you!

            Is it okay if I message you if I need help with the form? This would be my first time filing my taxes by myself.

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            • #7
              contact

              Originally posted by LadyK8 View Post
              Thank you!

              Is it okay if I message you if I need help with the form? This would be my first time filing my taxes by myself.
              The quickest way to get a response from me is to send me an email at: [email protected]
              http://www.tomcopelandblog.com

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