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 serve? Or just the meals that aren't reimbursed by the food program?
Food Program & Standard Meal Deductions
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Food Program
I've written a recent blog post "How to Claim Food Expenses" at http://www.tomcopelandblog.com/2011/...-expenses.html
See another blog post of mine "Are CACFP Reimbursements Taxable Income?" at http://www.tomcopelandblog.com/2011/...le-income.html
Yes, you can claim every meal and snack you serve even if it's not nutritious.- Flag
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I've written a recent blog post "How to Claim Food Expenses" at http://www.tomcopelandblog.com/2011/...-expenses.html
See another blog post of mine "Are CACFP Reimbursements Taxable Income?" at http://www.tomcopelandblog.com/2011/...le-income.html
Yes, you can claim every meal and snack you serve even if it's not nutritious.
I thought you said that we could count the food program as income and then use the standard deduction for meals and snacks? Not just the "non-reinbursable" correct?- Flag
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Food expenses
"What's most important, however, is to keep a daily record of all meals and snacks that are not reimbursed by the Food Program. You don't need to keep a menu. These non-reimbursed meals and snacks do not have to be nutritious. If you serve a popsicle in the afternoon, it's a snack! I'm not advocating that you serve junk food, but if you do, it's deductible. Do your best to record these non-reimbursable meals and snacks because it adds up: One non-reimbursed snack a day is worth $171 a year per child!'
I thought you said that we could count the food program as income and then use the standard deduction for meals and snacks? Not just the "non-reinbursable" correct?- Flag
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taxes
Is there a tax form we can fill out to have ready when we bring our taxes to be done?Building Blocks Family Daycare
Miss Heather- Flag
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Reimbursements from the Food Program are taxable income. There is an exception: reimbursements from the Food Program for your own children are not taxable income. Food eaten by your own children (or you at home) are never a business deduction. If you use the standard meal allowance you can deduct all the meals and snacks you are reimbursed by the Food Program (except those for your own children) and other non-reimbursed meals and snacks as well. The total number of meals and snacks per child in a day cannot be more than 1 breakfast, 1 lunch, 1 supper and 3 snacks.
So, we should save our receipts for daycare food (EVEN IF WE ARE REIMBURSED THROUGH THE FOOD PROGRAM) to use as a business deduction if we have no children eating the food? Or, if we are reimbursed then we cannot use it as a deduction?- Flag
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Food and taxes
I have a very hard time understanding taxes.
So, we should save our receipts for daycare food (EVEN IF WE ARE REIMBURSED THROUGH THE FOOD PROGRAM) to use as a business deduction if we have no children eating the food? Or, if we are reimbursed then we cannot use it as a deduction?- Flag
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So the standard meal allowance for taxes we can use 1 breakfast, 1 lunch, 1 supper, and up to 3 snacks a day per child IF they were in attendance and served those? Being on the food program pretty much just gives us their own rules and income so we can forget about whether we were paid for all the meals we claimed because we can claim up to the 3 meals and 3 snacks a day per child like you said if I understand. So is their a chart that is easy to track these? I know all year I've done a morning snack that I can't claim so I have B, S, L, S each day for all the kids. So I just have to go back to my attendance records for the year and handwrite down how many, but for next year I would like an actual chart. Do you have recommendations on how to do that? Also, if I have an infant in care and I feed them 5-6 bottles a day does that mean I would claim a breakfast, snack, lunch, snack, and snack since it's over the hours of 7-5?- Flag
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Standard meal allowance rule
So the standard meal allowance for taxes we can use 1 breakfast, 1 lunch, 1 supper, and up to 3 snacks a day per child IF they were in attendance and served those? Being on the food program pretty much just gives us their own rules and income so we can forget about whether we were paid for all the meals we claimed because we can claim up to the 3 meals and 3 snacks a day per child like you said if I understand. So is their a chart that is easy to track these? I know all year I've done a morning snack that I can't claim so I have B, S, L, S each day for all the kids. So I just have to go back to my attendance records for the year and handwrite down how many, but for next year I would like an actual chart. Do you have recommendations on how to do that? Also, if I have an infant in care and I feed them 5-6 bottles a day does that mean I would claim a breakfast, snack, lunch, snack, and snack since it's over the hours of 7-5?- Flag
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Standard meal deduction
http://www.fns.usda.gov/cnd/care/Pro...ents/Table.pdf
Effective from July 1, 2012 - June 30, 2013
Breakfast
Tier 1 $1.27
Tier 2 $ .46
Lunch/Supper
Tier 1 $2.38
Tier 2 $1.44
Snack
Tier 1 $ .71
Tier 2 $ .19
Hawaii and Alaska are different as well as centers.
HTH- Flag
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The numbers above are what providers currently receive from the Food Program, not what you can deduct as a food expense. Under the standard meal allowance rule for 2013 you can deduct $1.27 for breakfast, $2.38 for lunch/supper and $.71 for a snack. For 2012 you can deduct $1.24 breakfast, $2.32 lunch/supper and $.69 snack. Alaska and Hawaii are higher.
I just got the link e-mailed to me by my sponsor so I figured that is what pp'er was asking about.- Flag
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I can only claim 3 meals and one snack. Where do I put the other snacks at in MMK so that I can claim ALL of the food that I served?- Flag
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