daycare "home business" income tax question

[Ashley01]

Are you guys registered dayhomes? Or are you just SAHMs that take in extra kids and write receipts?

[Ciel]

http://www.cra-arc.gc.ca/tx/bsnss/tp.../menu-eng.html

The link to Daycare related tax items from the CRA site.

[etown]

I myself am a mom who works PT evenings and weekends and babysits during the day....so not looking forward to doing the taxes...

I dont know if I should do my own or get an accountant.....

[DianneS]

I'm a tax preparer, so of course I think it is well worth it for people to have their taxes prepared professionally That said, what you might consider doing, if this is your first year as a daycare provider, is having your return done professionally for 2010. Make sure you receive a full printed copy of the return (not just a 'summary' sheet) with all of the schedules, the T2125, etc. Then next year, if you wish to do your own return, you will be able to see exactly how your 2010 return was prepared and use it as a guide.

[jennipooh]

I am just opening my home daycare ( only 4 children in care) and will be issuing receipts. Do I need a business number to claim this income at tax time?
new to this and not sure.

Thanks

[matrix]

I am just opening my home daycare ( only 4 children in care) and will be issuing receipts. Do I need a business number to claim this income at tax time?
new to this and not sure.

Thanks

No you dont need to,

[momofmisters]

I am just opening my home daycare ( only 4 children in care) and will be issuing receipts. Do I need a business number to claim this income at tax time?
new to this and not sure.

Thanks

Nope you don't need a business number....but if you don't want to give your clients your SIN number then its the way to go. I personally have only had one client ask for my SIN in almost 3yrs.