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Daycare Center and Family Home Forum>So not prepared for taxes
laceylmm 04:47 AM 01-10-2014
This is my first year filing as a daycare provider: I really wish I had done more research and prepared more :/
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Jack Sprat 05:05 AM 01-10-2014
I'm in the same boat. I wish I would have kept up with recording expenses. Now I'm entering it all into MLK (love the program). I also ordered Tom Copelands workbook so that will be a huge help. We are hoping to file our own but have an accountant lined up if we get "lost".
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Familycare71 05:16 AM 01-10-2014
I am almost 15 years in and I still have to go through receipts every year... Maybe someday ill learn! I am going to start using MMK too so maybe that will help for 2014!!
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Cat Herder 05:44 AM 01-10-2014
Originally Posted by Familycare71:
I am going to start using MMK too so maybe that will help for 2014!!
It makes a huge difference.

I have a manilla envelope, labled "daycare receipts". I keep it on my desk all year. It takes about 15 seconds to record them as I receive them, then I toss them into the envelope.

By the last attendance day before the Christmas Holidays I hit print on all forms, seal the envelope and hand the parents their forms. Simple.

***The only thing new here for 2014 is that I need to photo copy all store receipts then staple them together as the ink is not keeping like it once did.
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melilley 05:56 AM 01-10-2014
I'm in the same boat! I've spent the last two days entering info into MMK! One of my New Years Resolutions is to enter everything the day I get or pay it!
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daycarediva 05:57 AM 01-10-2014
Originally Posted by Cat Herder:
It makes a huge difference.

I have a manilla envelope, labled "daycare receipts". I keep it on my desk all year. It takes about 15 seconds to record them as I receive them, then I toss them into the envelope.

By the last attendance day before the Christmas Holidays I hit print on all forms, seal the envelope and hand the parents their forms. Simple.

***The only thing new here for 2014 is that I need to photo copy all store receipts then staple them together as the ink is not keeping like it once did.
I am using MMK for the first time this year and so far, it's awesome! I started photocopying receipts last year after the scramble to recreate records using my cc statements due to faded receipts fiasco. Never again.
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mountainside13 06:52 AM 01-10-2014
So I am behind on the times what is MMK? How does it help with taxes/receipts? Isn't MM, minute menu? So confused
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MarinaVanessa 06:58 AM 01-10-2014
Originally Posted by mountainside13:
So I am behind on the times what is MMK? How does it help with taxes/receipts? Isn't MM, minute menu? So confused
Yes, MMK is Minute Menu Kids. The completely unlocked version is Minute Menu Kids Pro (subscription). It's the program that the food program uses to keep track of and claim your meals with but you can do a lot more especially with the unlocked version like keep attendance, mileage, track expenses (which will calculate all of your time/space % for you as long as you keep track of attendance), track meals, track payments, create invoices, accept electronic payments, create reports (like W-10's and MUCH more). It's pretty much a child care providers dream all-in-one record keeping program.
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melilley 07:16 AM 01-10-2014
Originally Posted by MarinaVanessa:
Yes, MMK is Minute Menu Kids. The completely unlocked version is Minute Menu Kids Pro (subscription). It's the program that the food program uses to keep track of and claim your meals with but you can do a lot more especially with the unlocked version like keep attendance, mileage, track expenses (which will calculate all of your time/space % for you as long as you keep track of attendance), track meals, track payments, create invoices, accept electronic payments, create reports (like W-10's and MUCH more). It's pretty much a child care providers dream all-in-one record keeping program.
This is my first year doing taxes and I am using MMK. It's so easy and convenient!
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mountainside13 07:28 AM 01-10-2014
Originally Posted by MarinaVanessa:
Yes, MMK is Minute Menu Kids. The completely unlocked version is Minute Menu Kids Pro (subscription). It's the program that the food program uses to keep track of and claim your meals with but you can do a lot more especially with the unlocked version like keep attendance, mileage, track expenses (which will calculate all of your time/space % for you as long as you keep track of attendance), track meals, track payments, create invoices, accept electronic payments, create reports (like W-10's and MUCH more). It's pretty much a child care providers dream all-in-one record keeping program.
Wow! I had no idea! I thought it was just to keep track of food for providers that use the food program! I am going to start using it for this year. I'm pretty organized but this year with the unusually busy holidays I just threw the receipts in a drawer. Now I have to go through all of them before I can file.
I would love an easier way!
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Cat Herder 07:31 AM 01-10-2014
Originally Posted by mountainside13:
Wow! I had no idea! I thought it was just to keep track of food for providers that use the food program! !
I am not on the food program and LOVE MMK Pro. I do the menus, though, because the parents like them and it keeps me organized for shopping. Get the free trial, you could be getting started by naptime (it is only $69.95 per year after that.).
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mountainside13 07:43 AM 01-10-2014
Originally Posted by Cat Herder:
I am not on the food program and LOVE MMK Pro. I do the menus, though, because the parents like them and it keeps me organized for shopping. Get the free trial, you could be getting started by naptime (it is only $69.95 per year after that.).
I just did a little research on it. It sounds pretty great! I will start the free trial, I am sure I will love it. But it might be a little hard convincing my husband to pay $70 a year for it.
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melilley 07:45 AM 01-10-2014
Originally Posted by mountainside13:
I just did a little research on it. It sounds pretty great! I will start the free trial, I am sure I will love it. But it might be a little hard convincing my husband to pay $70 a year for it.
Tell him if he doesn't let you get it, then he can do your taxes...lol
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mountainside13 07:54 AM 01-10-2014
Originally Posted by melilley:
Tell him if he doesn't let you get it, then he can do your taxes...lol
Haha! That would make him want it! How do you scan/enter in the receipts?
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mountainside13 08:00 AM 01-10-2014
Originally Posted by Cat Herder:
I am not on the food program and LOVE MMK Pro. I do the menus, though, because the parents like them and it keeps me organized for shopping. Get the free trial, you could be getting started by naptime (it is only $69.95 per year after that.).
I looked at the app portion and it says that providers that don't participate in the food program can't use the app. So I would only be able to use it on a computer?
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melilley 08:01 AM 01-10-2014
Originally Posted by mountainside13:
Haha! That would make him want it! How do you scan/enter in the receipts?
There are categories in the program, some things you depreciate, some not, but you can select a category and it will list examples and will have a depreciation part if it needs to be depreciated. I just manually enter the info. This probably doesn't make sense...hopefully someone can explain it more!

I'm still learning. I'm still going to go to a tax pro and am taking a tax class next week.
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Cat Herder 08:03 AM 01-10-2014
Originally Posted by mountainside13:
I looked at the app portion and it says that providers that don't participate in the food program can't use the app. So I would only be able to use it on a computer?
I only use mine on my computer because I am old and small print is not my friend.

I am not a smart phone person.
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mountainside13 08:08 AM 01-10-2014
Originally Posted by Cat Herder:
I only use mine on my computer because I am old and small print is not my friend.

I am not a smart phone person.
Haha! That would be a deal breaker for me if I can't use the app or my smart phone. We don't have a working laptop or a desktop anymore. The laptop we have is stuck in safe mode and has so many viruses no software could fix it. Lol!
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Cat Herder 08:16 AM 01-10-2014
Originally Posted by mountainside13:
Haha! That would be a deal breaker for me if I can't use the app or my smart phone. We don't have a working laptop or a desktop anymore. The laptop we have is stuck in safe mode and has so many viruses no software could fix it. Lol!
I am sorry to hear that. I don't think I could function without a PC. My family uses word, go to meeting and power point almost daily for homework and my DCK's do online preschool sessions a couple times a week for benchmark portfolios.

'Ya know buying one could be viewed as a business expense for you (not sure what percentage, ask Tom if you want a correct answer on that ).

The $70 subscription fee is also deductible.
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mountainside13 08:38 AM 01-10-2014
Originally Posted by Cat Herder:
I am sorry to hear that. I don't think I could function without a PC. My family uses word, go to meeting and power point almost daily for homework and my DCK's do online preschool sessions a couple times a week for benchmark portfolios.

'Ya know buying one could be viewed as a business expense for you (not sure what percentage, ask Tom if you want a correct answer on that ).

The $70 subscription fee is also deductible.
That's true
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GKJNIGMN 09:25 AM 01-10-2014
I kicked my butt into gear over New Years Day and have kept up with MMK like everyone suggested so hopefully next year will be good. Thankfully I have only been in business since August so I should be able to figure it all out from receipts.
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Kcole1075 09:49 AM 01-10-2014
I started in September i had a bunch of receipts kept i had them in a section of my wallet. But hubby LOVES to clean out my purse! I looked the other day for the reciepts and they are all gone!

I now have 4 reciepts for taxes. I did label the transactions on my bank account as which one was for buisness and stuff. But i have no reciepts to show what i got.
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Crazy8 09:54 AM 01-10-2014
I have to get started on my tax info!!! I always procrastinate and end up rushing last minute, LOL!! I don't use MMK, I like to use my own excel spreadsheets that I have tweaked over the years.

I really should work on parent statements this weekend so I can get them out a little early this year!
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MarinaVanessa 10:19 AM 01-10-2014
Originally Posted by Crazy8:
I really should work on parent statements this weekend so I can get them out a little early this year!
I know you mentioned that you don't use MMK but I have to put in a shameless plug here ... my client's W-10's were ready in 1 minute on January 1 and my clients had them in hand Jan 2, MMK makes it so easy but everyone is comfortable doing it their own way .

I used to use the Calendar Keeper.
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Tags:minute menu kids pro, mmk, mmk - app, mmk - reports, receipts
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