Originally Posted by melilley:
This is the first year that I have had my daycare business and am starting to freak out about doing taxes. I have been reading and watching Tom's blog/videos and there are things that I have done wrong! Now I don't know if I can go back and fix them.
For instance, I just watched a video on tracking hours while children aren't in care. I have been doing it wrong the whole time! I have MMK and instead of entering the hours day by day and entering the times I have done things, I just averaged so many minutes/hours per day that I have done a particular activity.
Can I go back and fix that? Or just take a loss?
I just learned that I can average 2 months and use it for the year, but it's already almost December.
I am so nervous about the whole tax process. I have been looking around for tax preparers in my area who know about fcc's and taxes, but have been coming up empty!
You can go back and fix it. Track hours from now through a few weeks into January to get your two months worth for 2013. Track another 2 months for 2014. Here's the video she is talking about.
http://www.tomcopelandblog.com/2013/...-kids-pro.html