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  1. #1

    Paying taxes for home daycare

    Hi! I have recently started up a home daycare, and was looking for some advise on how much I should be setting aside come tax time? Is there any sort of guideline on an approximate amount I may be taxed? I know thereís no way of knowing exactly, Iím just looking for a bit of a guideline!

    For reference I am estimating an income of about $7000. I started up this Sept so it will only be a few months of care to be claimed.

    Thank you so much in advance for your advise!!

  2. #2
    Expansive... BlueRose's Avatar
    Join Date
    May 2012
    299 Times in 222 Posts
    Because everyone makes different amounts and have different amounts of deductions there is really no guide.

    I up 15% of each payment in a separate bank account, I always have more than enough to pay my taxes. I would rather have too much saved then not enough.

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