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Daycare and Taxes>Recording Food
athomemommy 08:52 PM 12-03-2011
This is a tough one for me. The kids eat 4 times here, two meals, two snacks. My two children eat also. I eat once in while ( when I get a min) I try to eat with them but I seem to move more then get to sit.

So my question is how do I record the food receipts that I get. I am not on a food program yet. Please explain what you do?
TomCopeland 01:52 PM 12-04-2011
First - get on the Food Program as soon as possible.

Second - if you use the standard meal allowance method for claiming food expenses, you don't need any food receipts. Add up all the meals and snacks served to day care children and multiply by $1.19 for breakfast, $2.22 for lunch and suppers, and $.66 snack.
athomemommy 08:52 AM 12-05-2011
What if I spend more than that? Is that all I can claim? Most of the food I buy is the for the program. I have to wait until I am licensed to get back on the program.
TomCopeland 12:20 PM 12-05-2011
If you use the standard meal allowance rate you cannot deduct more in food expenses, even if you spend more on food. Instead of using this rate, you can estimate the actual cost of the food you serve, but you must also keep all business and personal food receipts. Most providers will find that they get a higher deduction using the meal allowance method.
frgsonmysox 08:59 PM 12-05-2011
So, if you charge your families for breakfast and lunch then you do not claim the deduction on taxes?

Do you have to be on the meal program to claim it on the taxes?
TomCopeland 12:32 PM 12-06-2011
If you charge parents for food, you must report that as income. But you can still claim food expenses using either the standard meal allowance method or the actual expenses method.

If you join the Food Program you cannot charge parents for food.
Unregistered 08:34 PM 12-16-2011
If i serve more meals than the food program covers, Can i write off the meals not included in the food program?
TomCopeland 06:10 AM 12-17-2011
If you use the standard meal allowance method you can deduct up to one breakfast, one lunch, one supper and three snacks per day, per child.
If you use the actual expenses method you can deduct as many meals and snacks that you serve - no limit.
Tags:ded, deduction - food, food program, record keeping, tom copeland
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