|
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. |
|
Thread Tools | Display Modes |
#1
|
||||
|
||||
Tom Copeland I Swear This Is The Last Question
First of all I can't thank you enough for taking the time to answer so many questions. I have been working all day to get things ready to go back to our tax consultant. I am really not confident she is fully aware of daycare taxes, as neither am I obviously. lol. After I get done getting this together, then I'm going to sit down tomorrow, buy your ebook and start on January 1, 2018 tax recording so I don't get so behind like this again. There is so much I know I"m going to learn from your book and I'm excited to do so. If you could just help me understand a couple of more things I would very much appreciate it.
I'm attaching a copy of my food program tax statement for 2012. I am confused on my food program statement. What does it mean at the bottom where it says "total deductible food expense $3927.00" I noticed my last tax preparer had a listing of my expenses including mileage, cable tv, cell phone, gifts, insurance, interest, taxes, utilities and then he wrote "Food Supplies per diem rates), $4,446.00. He added that to my expenses. I'm not sure why it's that, when the total deductible food expense said $3,927.00. Also I'm working on my t/s % for last year. I have all of my hours when kids were here, but I have nothing for general booking hours, cleaning, in-home training etc. How can I document that for last year? Thank you so much! |
#2
|
||||
|
||||
expenses
Quote:
If you haven't tracked your extra hours for last year, you could do a reconstruction now. Write down what you did in a typical week or month for these hours and claim them. For 2018, carefully track these hours for at least two months and use the average for these two months for the rest of the year.
__________________
http://www.tomcopelandblog.com |
#3
|
||||
|
||||
Quote:
I did not enter on my food program sheets meals (PM snack) that I served but didn't claim. That's what I was thinking was that he was giving me the pm snacks that I couldn't claim on the food program as I already claimed 2 meals and a snack. The rate for snack then was $.69. So 924 meals X $.69 would be $637.56. So adding $637 to the $3,927 is $4564 ($118) over what it should be? |
#4
|
||||
|
||||
snacks
Quote:
__________________
http://www.tomcopelandblog.com |
Tags |
time space percentage |
Thread Tools | |
Display Modes | |
|
|
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
Partial Week Question | CityGarden | Daycare Center and Family Home Forum | 8 | 03-28-2017 12:47 PM |
Daycare Non-Payment Question | blueskiesbutterflies | Daycare Center and Family Home Forum | 6 | 11-17-2014 10:43 AM |
Question With A Bit Of A Rant, But Circling Back To The Question! | MaritimeMummy | Daycare Center and Family Home Forum | 14 | 09-25-2012 12:29 PM |
Dumbest Question Of The Year.... | Countrygal | Daycare Center and Family Home Forum | 14 | 09-01-2012 05:08 AM |
Question...About 52 Week Pay Periods | frugalmama4 | Daycare Center and Family Home Forum | 9 | 08-09-2012 01:21 PM |