I watch a two year old boy about 35 hours per weeks for $150 in Denver, CO. This is an excellent price. Most in-home child care providers charge $8-$15/hour here. I am child CPR certified. However I do not need a license to watch one child, so I do not have one. After we move into a larger house (in 2 months) I am setting up for child care and will obtain a license at that time in order to watch another child. My question is this... The boy I watch needs care as early as 2 am, and sometimes overnight. NO child care centers even have the option to leave your child overnight, so what should I be charging for that time? Should I do an hourly rate of $5/hour for regualar hours & $7/hour for night? This is for parent who make 90K per year. The child is good, but he is not potty trained. I'm thinking $200/week is good. I met with the parents and informed them of a rate change (with a 30 day notice). The mother was not willing to pay more, so they are seeking care elseware! Wow... I didn't know I was so unappreciated.
and what the parent can afford
use fair and good judgement
is it for a single parent?
Make sure that you keep impeciable records. Save all receipts for goods purchased on behalf of the youngster. Much of what you go through is a deduction from this income, Including your American Red Cross CPR certification fee. (See Form 1040 Schedule C for more details and Publication 17 both available at your local library)
You must also hand to the "customer(s)" at the end of each year a statement saying how much they paid in child care. There is no standard form so you could make one up for yourself.
In any case. Please consult your own tax advisor if and when you decided to do this.
WOAD- you need to give your self a rise. Anyone who pays out of pocket for full-time child care usually means they are making enough money to pay you a decent salary.
Lastly, Seek out the nearest HRA office and fill out a Family Care Provider Application Form ASAP. This will help you obtain your license quicker and cheaper, all courses, finger-printing w/ the BOE and correctly certified for free while getting a weekly +$150.00 paycheck.
STARTING AT 5PM $8 A NIGHT EVERY HOUR