I should open a day care.

[txpitdog]

$215 a week per kid and we had three in at the same time for two years. Every time I enter the amount spent for childcare into Turbo Tax is asks "This seems high. Are you sure it's correct?". Yes dammit. It's correct. Our youngest has 4 months left then she's in kindergarten next year. Yeehaw! I think we've spent close to $150,000 over the past 7 years, but I suppose it's worth it. They all left the day care reading at a near first grade level and doing simple addition and subtraction.

[smithb164]

$215 a week per kid and we had three in at the same time for two years. Every time I enter the amount spent for childcare into Turbo Tax is asks "This seems high. Are you sure it's correct?". Yes dammit. It's correct. Our youngest has 4 months left then she's in kindergarten next year. Yeehaw! I think we've spent close to $150,000 over the past 7 years, but I suppose it's worth it. They all left the day care reading at a near first grade level and doing simple addition and subtraction.

I was doing the math for my two kids the other day, by the time my youngest enters kindergarten, I will have paid $97k and change. It's a tough pill to swallow, but I know they are in good hands!

I'm only paying 2/3rd's the amount that you paid....I think I know your pain!

[BETTERLUCKYTHANGOOD]

After reading what y'all pay for daycare I'm gonna give my dog a great big hug when I get home.

[cvanbrunt]

What sucks is you can only deduct $3,000 for each kid

I have to pay half of any daycare or afterschool care for my boy due to divorce AND she gets all the write offs. Thats on top of $768 per month child support, carry him on my insurance, half of all medical, plus child care.

Have never and will never get to claim him on my taxes. Wish like hell I'd have thought about it and fought to have it in the decree that I get to claim him every other year.

[jmeghunts]

I'm shocked at the number of people that send kids to daycare. My wife stayed home with our son because we couldn't stand the thought of someone else taking care of him. When she got pregnant we sold some stuff, built a smaller house and lived cheap for 5 years. He's a great kid and we are so happy that we did it. I understand why people do it but I have to ask...Have any of you thought about just living cheaper and one of you staying home?

[kaizen]

jmeghunts, I think I am qualified to respond to your question since we have seen both sides. Girls are taught these days that they have to have a career and women buy into that long before they think about having children. My wife has a master's in library science and all the student loans that go along with it. As long as my wife could pay her loans and day care she wanted to work and was driven to be a professional. Staying at home wasn't on her radar.

Ultimately, we did what you suggested because with three kids there was no financial way for her to work. Three kids in day care exceeded the take home pay that she could make. However, giving up the career is very difficult. Someone has to pay the loans and my wife feels dependent. Couple that with all the hormones after giving birth and it is a dangerous cocktail. We are dealing with not only a large step back in prosperity but also post partem. In hindsight, she would have been happier working for a break even than staying home.

[TallTexan]

Better have good insurance, they will sue the pants off you in a hurry.

This is exactly where most of the cost come from

[Mayhem]

I'm shocked at the number of people that send kids to daycare. My wife stayed home with our son because we couldn't stand the thought of someone else taking care of him. When she got pregnant we sold some stuff, built a smaller house and lived cheap for 5 years. He's a great kid and we are so happy that we did it. I understand why people do it but I have to ask...Have any of you thought about just living cheaper and one of you staying home?

It's simple math in our case.

My wife makes 50k a year and carried out insurance. Why would I give up 50k of income to save 12k? It makes sense for us financially to pay for day care. I know I'm complaining about the cost but ultimately it's the only way we make ends meet.

[jer_james]

My Sis-in-law graduated with a degree in Child Development. She started in home because she was going to stay home anyways with my two Nieces. After watching 3 kids on her own for a year, all her friends, and friends of the babies she was watching started clamoring for her to do more. My Brother has now purchased 3 houses on the same street to expand the operation. She is amazing, and is a saint for charging what she does considering how good she is.

Finding the good ones is definitely a blessing.

[Thumper]

I have to pay half of any daycare or afterschool care for my boy due to divorce AND she gets all the write offs. Thats on top of $768 per month child support, carry him on my insurance, half of all medical, plus child care.

Have never and will never get to claim him on my taxes. Wish like hell I'd have thought about it and fought to have it in the decree that I get to claim him every other year.

Go back to court and change it.

[Tmag]

That's cheap daycare. We were $2500/month for twins

You need to tell PawPaw Carl to retire and come keep em for free!

[quarterback]

Just wait till they get to college. It never ends!

[Aggiehuntress]

Question about taxes and Daycare. This will be out first year doing taxes with the munchkin. How much of the daycare can be written off? we pay 209 a week

[cvanbrunt]

Go back to court and change it.

Last time we went for a review it went up to where it is now instead of staying the same or reducing.

[Jaybo31]

Question about taxes and Daycare. This will be out first year doing taxes with the munchkin. How much of the daycare can be written off? we pay 209 a week

When we had child care I would just put in the amount paid and Turbo Tax calculated it. But I think its 3000 max per child credit, then a percentage of that. Its for sure only a drop in a bucket compared to what you paid.