Does anyone run a daycare?

Question

I would love to open one, but I just don't know if I can make enough to support myself. Anyone with expieriance please let know how your is going.

Answer 1

You can make this work, but it's alot of work & responsibility. The demand is always there.

If you are talking an at home daycare, make sure to register with the state, and check to see if there are any local business taxes/licenses you will need. Discuss your rates with customers up front, and ask if they are going to want your social security number at the end of the year for their tax return (to claim a dependent care credit). If they are going to report what they paid you at the end of the year on their tax return, you have to be very careful to report & pay taxes on what you received from them.

If you are talking about an out of home the business, see if you can visit with the director of another preschool/day care to ask questions about getting started, etc.