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So I'm still getting use to this kidcare accounting. I'm trying to figure out what the appropriate category would be for some things for instance, yard...
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In March, the state closed me down because the governor said in his handbook that anyone over 65 should not be around young children. Licensing interpreted...
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Hi I will open a daycare soon, it will be a LLC , I will take care maximum 5 children, I am starting from scratch, I am working on my license now, MY...
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Hey everyone!
I have worked in early childhood for over 20 years. I have done a little bit of everything - trainer, teacher, administrators,... -
We have a family day care the the California Bay Area and find it's very difficult to find a worker who go on the payroll and pay taxes. We pay $15 per...
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1. What is the maximum amount of child care expense a family can claim for 2 children? I have a married couple here that have a bet
. Mom says $3000...
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On pg #159, it states that its unreasonable to pay your child $6,000 if business profit is $15,000. I don't see anywhere in Tom Copeland's audit archives...
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After three years what are general deduction percentages you all take?
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OK Tom, I am finalizing my categories for record keeping after going through your book again. This is what I have in a nutshell. I went off your lists...
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Tom, I do have your book but am still somewhat confused. What I need is to figure out what categories in my Forms, Facts and Figures to use. This is...
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I know I'm super early with this (I'm getting ahead of my bookkeeping so I don't need to scramble at the end of the year). Do we have any insight on how...
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I just finished my record keeping for the short time I was in operation as a child care provider (opened doors Sept 28th) and my total deductions are...
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Should enrollment fees and late fees be included in the parents end of the year total on their tax receipt?
I know I have to claim it... -
I have a special needs child whose doctor said for us to add Carnation Breakfast Essentials to her milk in an effort to increase her calories and keep...
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I am in Canada and we are getting lots of snow in my area this year. I have just signed up some new clients and one client arrives 7:30am so my husband...
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Hey guys! We are in the middle of a HUGE ice storm right now, and our driveway is a skating rink.
My DF (dear fiancee) picked up some salt... -
I'm so sorry for all the questions!
My parents pay each Friday for the following week. Because of the holidays they paid on 12/23 for... -
ok so i would love to know how exactly deductions work. Do you just add up all your deductions for the year and subtract them from your income and that...
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Hello all,
Going through my mountain of receipts and I don't think I have ANYTHING that is used 100% for the daycare. I five kids of my... -
I will start by saying I just bought a used edition of Tom copelands family child care record keeping that has the 1000+ tax deductions.. literally 5...
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If you care for less children than a license requires, and are not licensed by the state but still have a fed tax id and still claim all the income can...
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I am trying to be pro-active and look at how much I need to have in business expenses to off-set owing taxes. Is there a good rule of thumb?
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OK, so obviously it is pretty common to claim more than your income when first starting out. My question would be- if I make X amount of income, once...
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I'm going over my receipts from each month to make sure I didn't miss anything. Man, I feel dirty, I use TS% for almost anything non-edible, and I mean...
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Hi!
I just started my home DC business in August, and bought the house in April (we needed a bigger home to have an exclusive DC area, so... -
Hello there...
I just discovered this forum *today* and have been amazed by the wealth of information. Who knew you could deduct all of... -
so I know over time we all made a list of things that we can write off on our taxes along with a nice list of time space % list of activities and etc....
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We have gotten quotes to pour a concrete walkway for the daycare parents to use to enter through the side door. They have always come through the side...
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I have a few things that i am not sure what section to claim them under...
garbage disposal, old one broke and had to replace. repair and... -
I have an infant that I provide meals for. He drinks 4 or 5 6oz bottles a day and 2 meals.
For the standard deduction, how many meals... -
Tom - I currently operate a family chid care home. I am working on expanding to a center and obviously spend a lot of time online doing research, time... -
I've sent in the paperwork with the fee and am waiting to get that back then I will have to pass fire safety and then I will be registered. I am babysitting... -
So, I am a bit lost as far as my taxes go. But I have some time to get caught up with my tax information and things I need to track, etc for the daycare....
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I'm kinda of a ding dong when it comes to taxes. If I decide to open childcare in my home I will be watching 4 kids with my own. Can someone tell me exactly...
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Just wondering the the average amount is that we can claim without having a receipt. I ask cuz we do not have receipts for dish soap, tp, laundry detergent... -
In 2 of your books I'm reading, it says for a trip to be considered a business trip, the main reason for the trip should be for business, or that you...
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I looked at those reports from MMk you listed and her is what I currently have, so just wondered what your thoughts were on them, or if anything looked...
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I am working on my home improvement/yard folder. This is home improvement & yard stuff, and I need some clarification on what is and isnt deductable....
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I have a lady that cleans my house, not the dc room but everything else the kids use. How do I claim this
also the same for the lawn guy?...02-25-2011, 02:01 PM -
I thought it would be helpful if we all could add something to the "worked when no kids are here" list, because we dont always think of everything...
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Tom what if all my belongings and startup costs end up coming out to more than i even made this year I watched a baby for 2 months made 985.00 but i know... -
Tom, a food tax question.
I've heard that I could claim food I feed babies (formula, breast milk, baby food) as a standard deduction even... -
I pulled out my reciepts last night to start/finish entering them into MMK because I am sooo far behind, and I was shocked as to what I had found! ...
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I'm curious. When I'm calculating my meal expenses for my in home child care...can I claim the meals and snacks that I feed my own children? I was a single...
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We purchased a lawn mower is this deductable if so where and/or do I depreciate it? We use it both for personal and business use. -
Hi Tom,
We purchase both a new gas stove and a new AC/Heating unit in December 2010. How do I claim these?
The questions... -
I am on the food program-get reimbursed each month-so this is claimed as income and taxed? So on the standard meal deduction I can claim EVERY meal I... -
I was wondering last year I took two courses on the Eager to learn website, taking these for my grant training requirements, county training requirements,... -
Every yr I go through the same thing..I save all kinds of reciepts and stuff(not DC as this is my 1st yr) and in the end I find out the standard deduction...
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Does anyone know the benefits of deducting college tuition vs. applying the tax credits (I qualify for both, although their names are escaping me at the... -
We are billed quarterly for our water bill. Oct/Nov/Dec water bill was due Jan 2011. I had 2 DCK's in those months. Now I have 1. I am assuming I cannot...
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My internet is on my cable bill, so should I just combine them in MMK or do I have to break them down separately?
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I'm rearranging my home in preparation for my new baby being born at the end of May. Up until now, I've had an extra bedroom in use as 100% business use...
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In April we sold our house, we only made a profit of about $1,200
We lived there for little over 5 years.
I have been doing my own daycare... -
Ok, so today I am working on my Home improvements file. So, from what I understand, is that we can deduct:
Home improvements that effect... -
My husband has been employed by our church as a pastor for 10 years. This year he completed his goal of becooming ordained, which means that part of... -
First can I write off the mileage to go to the bank to deposit parent payments?
Second, can I write off the dog food if she plays with the kids... -
First, can I write off the mileage to go to the bank to deposit the checks the parents pay me?
Second, can I write off the dog food? My dog is... -
I'm confused..I know the some of things that we are able to write off such as aluminum foil, light bulbs, lawn care, etc. What I dont understand though...
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Since I use my car for DC, field trips, shopping, banking, etc can I write off with t/s% :
new wiper blades
anti-freeze
new... -
what are the rules for writing off your vehcile for daycare???
thank everyone and happy saturday!!!!!1 hope your having a great... -
Ok, First year officially doing this. I had a late start, and I know I have not made enough to claim deductions, or if I made just enough, then I wouldn't...
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We put up a fence for daycare. MMK gives me the option of 15 year straight line depreciation, 15 year-150% declining, or other..
Can someone... -
Is their a limit on how many deductions you can use for taxes? For example, are you only allowed to deduct so much $ in food, utitlies, house payment,... -
I have been reading these threds and trying to learn how things are done. Here's my question: If everything is in my husband's name only (mortgage,... -
If I were to sell my DC items, do I somehow have to report or claim the income from the sale of these items? Like I have some extra highchairs, exersaucers,...
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How do you document purchases from CL or garage sales for tax deduction purposes? -
Okay, so I just got minute menu and I love it. However, I'm trying to enter my expenses and I"m SOO confused. My daycare is in my basement and... -
I'm going through my receipts and marking them to put it into minute menu....I have 2 snowplow receipts from the beginning of the year....I remember at...
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We filed our taxes last night and the lady from H&R block said that instead of saving all of my receipts for food, I can just keep track on when the...
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Can you claim a purchase on taxes without a receipt? I made a large purchase for outside and I thought I set my receipt aside but it's not in my recipts...
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I've had several calls from parents who want me to hold a spot for their child for After School care for next September (the '10-'11 school year). I'm...
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for taxes? Do you do a percentage? Or set amount? -
I have been a provider for 6 years, I use every deduction I can think of but last year I owed 3,000 dollars!!! My preparer is an accountant and a provider...