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Daycare and Taxes All things related to Taxes and running a Daycare post here. Topics of tax exemptions, forms, filings, tax write offs, IRS etc.

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Old 01-23-2018, 06:05 AM
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Default Closing....How to Keep Records???

Everything is stored on Minute Menu. I obviously don't want to pay to renew once I close.

Should I print each years documents to be able to have in case I need wtihin the next 7 years for IRS??? If so, what exactly should I print and keep???
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Old 01-23-2018, 06:12 AM
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You can download to PDF, then to keychain zipdrive.
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Old 01-23-2018, 09:23 AM
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TomCopeland TomCopeland is online now
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Default Closing business

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Originally Posted by TSDaycare View Post
Everything is stored on Minute Menu. I obviously don't want to pay to renew once I close.

Should I print each years documents to be able to have in case I need wtihin the next 7 years for IRS??? If so, what exactly should I print and keep???
You only need to keep records for 3 years. Minute Menu will save your records for 4 years. The reports you want to keep are: Depreciation Report, Schedule C Detailed Expenses, Form 8829 Detailed Expenses, Vehicle Mileage, Standard Meal Allowance, Time-Space % Calculation, Time-Space Hours Present, Time-Space Other Hours.
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