Daycare.com Forum Daycare Forum

Go Back   Daycare.com Forum > Daycare and Taxes

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.

Reply
 
Thread Tools Display Modes
  #1  
Old 05-18-2013, 04:43 PM
MrsSims's Avatar
MrsSims MrsSims is offline
Daycare.com Member
 
Join Date: May 2013
Location: North Dakota
Posts: 3
Exclamation New Daycare In 2014, Help With Taxes!

I am opening up a daycare in january 2014 and im doing everything i can to learn how i am supposed to do the whole tax thing. What should i keep receipts for? what should i itemize?
I just dont want to owe a lot

PLEASE help me!!!

THanks!!
Oh if it matters i live in north dakota
Reply With Quote
  #2  
Old 05-18-2013, 06:11 PM
Michael's Avatar
Michael Michael is online now
Admin & Owner-Daycare.com
 
Join Date: Aug 2007
Location: Moorpark CA, Ocean Ridge, FL
Posts: 7,802
Default

Welcome to the forum.

Suggest you search and review many of the threads that Tom Copeland advised us on. He has a blog also that may help. http://www.tomcopelandblog.com/
Reply With Quote
  #3  
Old 05-19-2013, 09:40 AM
TomCopeland's Avatar
TomCopeland TomCopeland is offline
Business Author/Trainer
 
Join Date: Jun 2010
Location: St. Paul, Minnesota
Posts: 3,066
Default starting out

Quote:
Originally Posted by MrsSims View Post
I am opening up a daycare in january 2014 and im doing everything i can to learn how i am supposed to do the whole tax thing. What should i keep receipts for? what should i itemize?
I just dont want to owe a lot

PLEASE help me!!!

THanks!!
Oh if it matters i live in north dakota
Here are the three most important things to do regarding taxes:
1) Save receipts for everything associated with your home (utilities, cleaning supplies, furniture, etc.)
2) Keep track of the number of meals and snacks you serve everyday to children
3) Keep track (for at least 2 months) the number of hours you work in your home caring for children

For details, see my book Family Child Care Record Keeping Guide which lists over 1,000 deductions: http://www.tomcopelandblog.com/famil...h-edition.html
__________________
http://www.tomcopelandblog.com
Reply With Quote
Reply

Tags
starting a daycare

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Licensed DayCare vs. Private DayCare marylmr Daycare Center and Family Home Forum 60 02-24-2020 01:20 PM
Today Is The Last Day With Daycare Babies...Ever! cheerfuldom Daycare Center and Family Home Forum 20 02-03-2013 01:55 PM
Is it a Preschool? Daycare? Both? Unregistered Daycare Center and Family Home Forum 7 03-21-2011 12:46 PM
Your Kids with Daycare Kids.. kendallina Daycare Center and Family Home Forum 11 08-25-2010 01:03 PM
Home Daycare Taxes? AnythingsPossible Daycare and Taxes 2 01-29-2010 02:50 PM


All times are GMT -7. The time now is 06:56 AM.



Daycare.com         Find A Daycare         List Your Daycare         Toys & Products                 About Us

Daycare.com
Please read our Disclaimer before continuing.

Topics pertain mainly to the following States:

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming