Food Program Question

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  • smb757
    New Daycare.com Member
    • Dec 2011
    • 33

    Food Program Question

    Hi guys,
    I am currently doing part-time daycare legally unlicensed, but later this year I will be switching to full-time and getting licensed. I'm debating signing up for the food program and I'm confused. :confused: Do you get reimbursed monthly and then can you still take the full standard deduction at the end of the year or do you just claim the difference between your reimbursement and the standard deduction? Thanks!
  • itlw8
    Daycare.com Member
    • Jan 2012
    • 2199

    #2
    You claim it as income then you claim the food expense under your expenses

    Remember you can claim more snacks or meals on your taxes than you can claim on the food program . So If you feed an extra snack claim it as an expense.
    It:: will wait

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    • TomCopeland
      Business Author/Trainer
      • Jun 2010
      • 3062

      #3
      Food Program

      Originally posted by smb757
      Hi guys,
      I am currently doing part-time daycare legally unlicensed, but later this year I will be switching to full-time and getting licensed. I'm debating signing up for the food program and I'm confused. :confused: Do you get reimbursed monthly and then can you still take the full standard deduction at the end of the year or do you just claim the difference between your reimbursement and the standard deduction? Thanks!
      You are always better off financially if you join the Food Program. Claim the Food Program reimbursements as income and count all the meals and snacks you served (the ones you got reimbursed for as well as any others that you were not reimbursed for) as a business expense.
      http://www.tomcopelandblog.com

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