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Daycare and Taxes>We Don't Owe
daycarediva 11:04 AM 02-15-2017
For the first time in almost 8 years, we don't owe in. We are actually getting a little back. Idc if it was ZERO back, as long as I didn't owe them more money.

We took the estimated tax payments and then sent in 1.5x that amount.

Without paying for the ACA, plus not owing in, my savings account looks pretty good compared to this time last year.
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TXhomedaycare 11:52 AM 02-15-2017
Originally Posted by daycarediva:
For the first time in almost 8 years, we don't owe in. We are actually getting a little back. Idc if it was ZERO back, as long as I didn't owe them more money.

We took the estimated tax payments and then sent in 1.5x that amount.

Without paying for the ACA, plus not owing in, my savings account looks pretty good compared to this time last year.
I hope we don't owe, getting something back would be the cherry on top.
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Play Care 12:15 PM 02-15-2017

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daycarediva 04:45 AM 02-16-2017
Originally Posted by TXhomedaycare:
I hope we don't owe, getting something back would be the cherry on top.
Exactly! Just a couple of hundred, but anything more than owing is amazing!
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Blackcat31 06:26 AM 02-16-2017
It kind of feels like winning the lottery doesn't it?

Which is really kind of sad... lol!
I was elated last year when we only owed half of what we did the previous year.

This year we owed one and got a refund of $44 from the other. Still better than it's been but tax season really shouldn't be the negative, stressful experience that it is for self-employed people.

I always get a bit pissy this time of year... I get tired of hearing about all my "over-worked" single daycare parents that don't pay a dime of their own money towards the care of their children but yet still get $1000's back in refunds.

One of them is in Mexico right now for 14 days. Wish I could afford a weekend somewhere tropical let alone 2 weeks! But I gotta work. Some one has to pay my bills.
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Play Care 06:38 AM 02-16-2017
Originally Posted by Blackcat31:
It kind of feels like winning the lottery doesn't it?

Which is really kind of sad... lol!
I was elated last year when we only owed half of what we did the previous year.

This year we owed one and got a refund of $44 from the other. Still better than it's been but tax season really shouldn't be the negative, stressful experience that it is for self-employed people.

I always get a bit pissy this time of year... I get tired of hearing about all my "over-worked" single daycare parents that don't pay a dime of their own money towards the care of their children but yet still get $1000's back in refunds.

One of them is in Mexico right now for 14 days. Wish I could afford a weekend somewhere tropical let alone 2 weeks! But I gotta work. Some one has to pay my bills.
My friend teaches at HS and was saying the same thing. Families coming in having gotten thousands back and heading to warm vacays over the break next week. My friend was like, "I'm taking my kids swimming at the Y!"
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daycarediva 10:39 AM 02-16-2017
Originally Posted by Blackcat31:
It kind of feels like winning the lottery doesn't it?

Which is really kind of sad... lol!
I was elated last year when we only owed half of what we did the previous year.

This year we owed one and got a refund of $44 from the other. Still better than it's been but tax season really shouldn't be the negative, stressful experience that it is for self-employed people.

I always get a bit pissy this time of year... I get tired of hearing about all my "over-worked" single daycare parents that don't pay a dime of their own money towards the care of their children but yet still get $1000's back in refunds.

One of them is in Mexico right now for 14 days. Wish I could afford a weekend somewhere tropical let alone 2 weeks! But I gotta work. Some one has to pay my bills.
Bc- when I had dd, no help/social programs of any kind, my neighbor was on HUD and kept pushing out babies. One year she got a 12,000 tax return, left her 5 kids with her mom, and went to puerto rico for 2 weeks. She barely ever worked! We used our measly 2,000 to pay up our bills and put in savings. Dh and I ordered pizza for the first time in like a year.


At least I can afford things like homes, cars, etc. now. It stinks not blowing money on elaborate vacations, but it's something to be proud of.


Our return was enough to pay for the tax preparation and then I put the rest in savings. We have another tax payment coming up in April. Oh, darn responsibilities!
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Gemma 02:39 PM 02-16-2017
Haven't done mine yet, I know I will owe so I'm waiting last minute
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Sumshine 06:23 AM 02-17-2017
Wooooo!

I was only officially opened for 1 month in 2016 and didn't have many kiddos until the last week of Dec so my business was a dive for 2016. I am going to enjoy what will be the only return in a LONG time where I get money back and not owe!

I told DH I feel I won't know what to do with myself next year I'll be crying tears of sadness and I won't know how to deal with the situation because I won't have a nice chunk of money coming my way I'll be owing it!

I feel like I've wasted these last 3 returns since claiming DS and this one I'm going to have to cherish lol!
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