USDA Food Program...profit or reimbursement???

[Dilley Beans]

Is the USDA food program check a reimbursement or revenue? I don't know how to categorize it and if I pay taxes on that check.

Also, are my food receipts applied as expenses even if I am enrolled in the food program?

Thanks!!!

[daycare]

Is the USDA food program check a reimbursement or revenue? I don't know how to categorize it and if I pay taxes on that check.

Also, are my food receipts applied as expenses even if I am enrolled in the food program?

Thanks!!!

reimbursement

[Blackcat31]

Is the USDA food program check a reimbursement or revenue? I don't know how to categorize it and if I pay taxes on that check.

Also, are my food receipts applied as expenses even if I am enrolled in the food program?

Thanks!!!

IRS publications say to report all the income from the Food Program and then claim your food expenses.

Here are some more threads about the same topic: https://www.daycare.com/forum/search...archid=3373633

[TomCopeland]

Food Program

Is the USDA food program check a reimbursement or revenue? I don't know how to categorize it and if I pay taxes on that check.

Also, are my food receipts applied as expenses even if I am enrolled in the food program?

Thanks!!!

It's a reimbursement for food you serve, but it's also taxable income that you must report on Schedule C. If you use the standard meal allowance rate you do not need to save any food receipts. Add up all the meals and snacks you serve (including those you serve that are not reimbursed by the Food Program) and multiply by $1.28 breakfast, $2.40 lunch/supper and $.71 snack and deduct it.

[Dilley Beans]

Thank you.