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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 07-12-2011, 12:12 PM
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Default Fed and State Tax Records in MMK

Is there a place on MMK where you can enter the quarterlies you have paid to Fed and State so that they show up when you print reports at the end of the year?
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Old 07-12-2011, 08:19 PM
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Default Minute Menu

Unfortunately not. You could enter them as an expense by creating a new expense category for them. They would then appear as an expense on Schedule C along with all other expenses. However, estimated taxes are not actually a deduction.
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Old 07-13-2011, 06:52 AM
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So do we just keep track of them so our tax person knows how much we have already paid when the finish up our 1040 and the like? I feel like after paying in that much I should get to put it somewhere!
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Old 07-13-2011, 11:26 AM
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Default Estimated taxes

Keep your own records of how much you have paid in throughout the year. It's not a deduction.
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