Zipper wrote:If you are netting less than $3500 year then maybe you should be doing something else.
Looking after children is one of the most difficult jobs imaginable.
Parents with a couple of children in registered day care could pay that in a month.
Maybe there is something more that we don't know?
Do you work for cash?
No, I provide receipts for all my families always have always will.
I charge $35 per day per child, which is about the going rate in my area. I can have up to five children, and deduct my expenses.
It looks like I make less than 3500, because of the expenses that are declared. A percentage of
My utilities, weekly groceries, office supplies, toys etc. is all deducted. I don't know the actual percentage amount that is deducted, I give everything to my bookkeeper and he does my taxes. I know my income, and my total amount of expenses… And the expenses are always higher than the income. But I am using those utilities, groceries etc. as well .
I love what I do, even though it's been the hardest thing I've ever done!
My main concern is although I seem to be following the rules for CPP and my income taxes… It seems that most other providers have to pay CPP every year, and I don't. And I can't figure out why they have to pay, and I don't.
It makes me wonder if my bookkeeper is writing off a higher percentage of expenses then he should be? Or perhaps the other providers are choosing to pay even though they also after expenses make under the $3500?