The Benefits of Becoming a Family Child Care Provider
Ever year thousands of women (almost all women!) make the decision to become a family child care provider.It's an important decision to take on a job that is not easy. The hours are long and it can be difficult at times to handle the multiple tasks of caring for children and dealing with parents. Although our society often does not appreciate and recognize the valuable work that you do, being a family child care provider is also very rewarding! So, here's a welcome to all new providers!
Caring for children from other families in your home is a wonderful job with many benefits. You have the opportunity to stay home and care for your own children. And you can earn money to support your family. Your work will make a big difference in improving the lives of the young children in your care.
By being a family child care provider, you will have access to a variety of resources and services to support your business. These include:
Training workshops to help you learn more about caring for children
Grants and other incentives to improve the quality of your care
Support and mentoring from other providers through your local and national family child care association
Contact your local Child Care Resource and Referral agency for more information.
There are also some major tax advantages of being a family child care provider:
You will be eligible to participate on the Child and Adult Care Food Program. This federal program will pay you hundreds of dollars a year per child for serving nutritious food. This can be a major source of income for you.
You must report as income all the money you receive caring for children. But, you can also deduct many business expenses such as food, toys, supplies, car expenses, and many household items. You can also deduct expenses associated with your home (rent, property tax, mortgage interest, utilities, house insurance and more). These expenses will significantly reduce your income and keep your taxes low.
The profit you earn caring for children will help make you eligible to receive Social Security benefits when you retire.
Before you can become a family child care provider you will need to meet your state child care regulations. These regulations include having a safe home environment, having the proper work permit, purchasing certain toys and equipment, and passing background checks. Contact your local child care licensor for more information.
There are many reasons why you should join the tens of thousands of other people like you who enjoy caring for children from other families in their own home. It’s rewarding to see children grow and learn. It’s a chance to stay home with your own children. And it’s an opportunity to make some money.
Whatever your reason – welcome!
Tom Copeland - www.tomcopelandblog.com
Image credit: https://www.care.com/b/l/ywca-minneapolis-children-s-center-at-ecolab/saint-paul-mn
For more information, see my resource for new providers, Family Child Care Business Planning Guide.
