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ani Offline OP
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I don't know how many of you guys have wife's that stay at home raising your children, but I just stumbled onto this Bill that was introduced to the Senate that would allow stay at home parents tax credits. At a quick glance, this looks like it was designed to offset expenses that would otherwise be paid to child care providers. I don't have any way to take advantage of such an opportunity, so I didn't bother reading it through. I'm not sure if it has even been read into the Law yet, but those of you that do have wife's that are stay at home mom's... or if you are a stay at home dad; you might want to read up on Tax Advantages, or at least Proposed Bills to help build better families by allowing credit for a parent to be at home with their children.

http://thomas.loc.gov/cgi-bin/query/D?c108:8:./temp/~c108QYHyqS::

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Thanks for the link.

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Doesn't look like it's done anthing since the reading on 6/12/03.
Judging by the number of things that seem to get filed, and the number that actually go anywhere, it seems like most of these proposals are just for show. A paper trail to show how your representative is actually doing something. \:D

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I'm a stay at home dad, do I qualify? Hopefully that doesn't make me un-American. Thanks for the link Ani, I will check it out as soon as I finish cooking dinner, washing the dishes and doing the laundry.

Thank goodness there's no gig tonight.

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Hi Ani,

It's not law (yet!). Thanks for always digging up these tax relief nuggets!

I just priced day care here in Westchester County, NY. I'm better off bringing in a family member from Jamaica or something.

The least expensive is $250/wk/kid @ 5hrs a day s days a week. I have two kids. The location is far from ideal.

Another spot (won't name names) is so exclusive, they are booked thru may next year, and need

a) somebody to vouch for me
b) we need to tour the facility, and they need to evaluate the kids to see if they'll fit.

"Good" daycare is looking like $700 week, so-so day care is looking like $600 week.

My wife is giving serious thought to starting her own day care. She has the training, and the temperament. I have the experience to wade thru the legalese and get the necessary certifications, insurance etc.

1st I gotta crunch numbers to see if it's worth my while...maybe I'll even let my kids go for a discounted rate!

NYC Drew

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I just filed. No such break yet. Maybe next year.

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Yeah NYC,

I know that story ALL TOO WELL about the astronomical expense of day care costs. I was shelling out an arm and a leg for day care expenses prior to divorce and rather than my ex paying attention to where the money was going; he repeatedly accused me of compulsive spending habits. :rolleyes: That's easy to do when you never bother to look at the finances to see what's being spent on what. That was a portion of the break up because I was the one bearing the brunt of the expenses anyway and I got sick of constant ridicule instead of backbone to help carry the weight. It's good that you acknowledge the high expenses and are working in combination with your wife to help resolve the financial burden. It's shows that you have a balanced marriage and that you pay attention to the budget. I commend you!

After divorce, my daycare expnese went to full time and even into overtime during the night shift. Nights are even higher rates than day rates because of the laws requiring a minimum of at least a cot for each child. I was paying more for child care than I was paying on my mortgage payment. Sad part of the whole thing is this, whereas families that make under a certain combined annual income can deduct 100% of day care expenses; I, as a single mother, topped out in the higher bracket that would only allow you to deduct 20% of child care expenses. That really sucked a big one.... There were times where I felt that I should just quit the Post Office and find a more admiral working condition that would allow weekends off, while lowering my income to qualify me for government tax breaks and etc. Plus, I would have been able to request higher child support payments which do not have to be reported as income from the ex. I decided to keep the stability because the ex was not stable in the marriage; why would I want to put myself in a situation of dependence after the fact.

My children are now 12 and 13 1/2 and they have been lock box kids going on their second year. I have to leave the house about 45 minutes prior to them having to catch the bus in the morning, and I have them dressed fed and ready to go prior to leaving for work. They get home about a half hour prior to me. I hate being in the position that I am in; but finances have forced me into dropping the daycare. They do this 3 days a week, as I have weekdays off. The go with their father every other weekend, and occasionally go to my step-mothers home while on my weekends.

I've been praying for the Treasury Dept. job because it has a later reporting time of 30 minutes that would allow me to take my children to school every day, while still being home in time to only have a 30 minute overlap. The job is only 10 minutes from home and thus the traffic makes all the difference in the world for drive time.

Child care is NOT cheap....

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NYC Drew sez:
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"Good" daycare is looking like $700 week, so-so day care is looking like $600 week.
Wow! Please tell me those are NYC prices. I am feeling quite fortunate. My wife and I have never even looked into daycare. If I had a day job, I doubt that it would pay $700 a week. Frankly, this time of year (January/February) I am lucky if I make $700 a week.

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Quote:
Originally posted by tnb:
NYC Drew sez:
Quote:
"Good" daycare is looking like $700 week, so-so day care is looking like $600 week.
Wow! Please tell me those are NYC prices. I am feeling quite fortunate. My wife and I have never even looked into daycare. If I had a day job, I doubt that it would pay $700 a week. Frankly, this time of year (January/February) I am lucky if I make $700 a week.
Yes, those are NYC prices. It's gets worse (and in some instances, BETTER) the closer you get to NYC!!!

Ani, the single most important client I have is...my family. I have three kids (12, 2, 10mths) the 12yr old goes to school in Jamaica. My wife is an employee/officer/shareholder of our company (owned/operated by us). She handles the paperflow. Without braggadocia, I can say she works any time she damm well pleases - as long as our objectives are met. We have enough space at my offices where the kids are in a humungous playpen in her office.

Just last night I was reminding her of a simpler time, when I had a 4'x8' plywood sheet across two 42" high, 3 drawer file cabinets, with computers and shit all over the living room. That was just 3 yrs ago, we had operating expenses of about $600 month. Jan 04 (operating expenses only, no salaries, no non bizniz stuff) was close to $5K!

Health insurance is killing me, but what to do?
Ditto for business insurance.
Ditto for self employment/etc taxes. Just today I got a VERY nasty letter from the IRS reminding me that corporations paying their officers a low salary, (and by extension avoiding the higher employment/SS tax rates) and declaring a (abnormally) high profit would be potentially subject to the high intensity rectal exam.

So I HAVE to pay myself a "median-ish" salary, instead of paying myself very little, then declaring all of the $5.00 as profit, then paying the lesser tax on the profit .

Where were we?.....Marriage and kids...yes.
I don't knock nobody, judge nobody on how they live or raise kids. I try to be around for my kids, I try to keep safe, sane and healthy so I can see my grandkids.

My wife's dad was shot (fatally) [(9-12bullets, messed up his head and face, closed casket)] times when she was 8 or 9. I plan on being around for a while.

I've known (and loved) my wife for 20 years. Been married since '97. I've often been a bit stymied by your posts on men, love life etc.

No doubt, marriage is hard. She's a born again speaking in tongues Penticostal Christian. I bring home stories about girls who offer to suck my dick just to meet the act I'm working with, or the background singers and dancers (mostly female, thankfully! \:\) ) that always seem to find a shoRt black midget like me attractive, or stories filled with alls kinds of WONDERFUL acts of depravity I recreate with accuracy and nonchalance - the same type of stuff she lashes out against daily.

...where were we??? Oh yeah, hijacking yet another thread...

Marriage is harder than any college course, any client I ever had, than anything I ever did in life, but so far, has been the most rewarding thing for me. Despite this, I have a lawyer on retainer (for my wife) for when she eventually snaps and beats the shit out of me!

I'm serious as quadruple bypass surgery about my kids and shit. I know you are too. Hopefully, you'll get this job. When you do, be sure to swing by the Post Office and M-O-O-N everybody; you'll fell better, they'll see a side of you they never saw before.

Why didn't somebody tell me kids wuznt cheap BEFORE I HAD 'em? ...and to think I wanted tropical fish at the time...

Later, gotta fill this short grocery list before I head home, or I'll be sleeping in the garbage compactor tonight - one piece at a time.

NYC Drew

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Quote:
Originally posted by tnb:
I'm a stay at home dad, do I qualify? Hopefully that doesn't make me un-American.
Yes....you are an un-American 'girly-man'... \:D

Actually, I'm a stay-at-home dad too. After the ecconomy tanked and I got laid-off a month after our son was born, we just said; screw it....might as well stay home and raise 'em.

I'll read the link with great interest, Ani. Thanks!

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Hey Drew,
you aint 1/2 bad for a yankee, nice post.
dang now thats 2 NY city guys i like, you and that old geezer Alndln. glad your wife can stay with your young'ns. i am blown away by how much day care is there. around here $125 a week for 9 hours is about normal to even slightly high.

Hey Ani: cool link i hope it passes.

its pretty sad to see a mom (or dad) both working with very young kids in day care. (a single parent has no choice)
often times the lower paid spouse barely makes more than the day care and a few bucks, all the while raising your tax base and expenses (clothes for work and make-up aint cheap, maybe second car)
then your kids are deprived of being raised and nutured by a parent. all for $50 bucks a week.

i was real glad to see the higher deductions for child credit, last yr and this yr.
if this goes thru also, it will definately make sense to be a stay at home parent.

Scott

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Quote:
Originally posted by tnb:
NYC Drew sez:
Quote:
"Good" daycare is looking like $700 week, so-so day care is looking like $600 week.
Wow! Please tell me those are NYC prices. I am feeling quite fortunate. My wife and I have never even looked into daycare. If I had a day job, I doubt that it would pay $700 a week. Frankly, this time of year (January/February) I am lucky if I make $700 a week.
Those are not just NYC prices. Licensed Daycare in K.C. was running between $150.00 and $200.00 a week per child for full time day care two years ago. I was paying $90.00 a week per child for "before school only" daycare 3 days a week; that was their reduced rate for part time school age children. If my child was ill, I could not take them to the center; I had to find alternative child care. If the schools had snow day closings, the day care center closed as well. The center closing without notice caused me to be late on my job more than once; thus having to search at the last minute to find an alternate person to watch the kids... not something that you would expect to have to do when paying out the rear in child care costs. If "they" closed because of inclimate weather and "you" had to "PAY" someone else to watch your kids so that you could go to work, the "daycare center" still demanded the full payment as if they had watched your kid. Sad thing is, all the day care centers were booked solid with waiting lists without driving across the city and paying tuition costs to enroll my children in a "LESSER" school district than the AAA rated schools they are in now. I've thought about running a daycare myself, but I've also seen a lot of daycare providers get stiffed by their clients.

I went to lock box with my son after the winter ended last year, so I should say that "this" is actually the first full school season that both kids have been lock box.... it started in September and it's not working out as good as it should be. I guess I said "two" years because of the fact that I pulled my kids out of the daycare that kept jerking me around on BEING THERE. One of the old ladies in the neighborhood agreed to get my daughter off to school for the remainder of last year, but since has had two serious heart attacks. She is available for my children to call upon if they need to, although, not very healthy; her husband doesn't want her having to get out of bed in the mornings to watch kids anymore.

If I don't get the job at the Treasury Dept, I'm more than likely going to be back in the market for child care, as I said, the lock box isn't working real well. The son likes to pick on the daughter.... At least the break that I've had in paying out the expenses has allowed me to get caught up some on debt. Not looking forward to having to step back into the market of seeking child care.

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My wife stays at home and I think our kids are better for it. Day care is expensive here in St. Louis. Our oldest is in preschool right now. Even that costs money. Thanks for the link!


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Quote:
Originally posted by Ani:
If "they" closed because of inclimate weather and "you" had to "PAY" someone else to watch your kids so that you could go to work, the "daycare center" still demanded the full payment as if they had watched your kid.
Wha!!?? For what? I can't imagine any parents would pay for a day that. I'd organize with the other parents and protest that policy.

Quote:

If I don't get the job at the Treasury Dept, I'm more than likely going to be back in the market for child care, as I said, the lock box isn't working real well. The son likes to pick on the daughter....
Have you checked your local YMCA? Boy's & Girl's Club? Churches?
There are usually plenty of afterschool programs that should'nt so costly.

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Good point super 8. I myself am a product of the YMCA after school program.


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Quote:
Have you checked your local YMCA? Boy's & Girl's Club? Churches?
There are usually plenty of afterschool programs that should'nt so costly.
If all I needed was after school programs, there would not be nearly as much of a problem. Most of the facilities do not open up until 6:30 or 6:45, which allows me absolutely no time to get to work across the city in 30 minutes while having to try to find parking. Also, one of the biggest problems is finding daycare inside of my school zone with openings PERIOD!!! I do not want to have to pay out of zone tuitions for school, and I also want my children attending "THIS" school district; thus being one of the reasons for moving into the neighborhood that I live in.

The Principal of the Middle School my children attend was voted the top ranking Principal in the State of Missouri last year; the schools are excellent here. My son is in SAGE, Students in Academically Gifted Education and if he can maintain his levels, he has already been slotted for his first two years of college to be paid by Scholarships. I don't want to place the kids in alternative districts, because of the advantages of the one they are in.

All of the churches are either full, or the hours are not congenial.

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