Originally Posted by jen2651:
But expenses don't come out at 100%. It won't be like I never took it in (know what i mean?! sorry, it has been a long day here too). I wish there was a way to have them be just given to the mom, like signing the checks over to her as opposed to them going into my account and then back out like an expense... maybe I am confused on income and expense, this is my first year!
But to me, it will look like I have $5,000 of income (when it should really be $2,500 (random numbers). I just have a feeling this will come back to bite me.
Personally I wouldnt record what the parent pays you in the MMK. Go ahead and give receipts for it but if you write reimburement on the receipt I would think you are fine. Only enter what the state pays you in the MMK stuff.
Unless the parent has to pay you more than the state pays...which in that case ONLY record what the difference is.