Daycare.com Forum Kidacare by Minute Menu Force of Nature Disinfectant HiMama Childcare App

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 01-11-2011, 05:01 AM
MommyMuffin's Avatar
MommyMuffin MommyMuffin is offline
Daycare.com Member
 
Join Date: Jun 2010
Posts: 887
Default Confused About Grocery Receipts??

I have been doing daycare for 3 months and I have not kept any grocery receipts. I only have 3 dcks and one of them is breast fed.

I dont buy seperate food for daycare because it would go bad if I didnt use it up. We just share all the food.
Do I keep my grocery receipts and do a t/s% or something? I am on the food program...do I still need to keep receipts for tax purposes?

Thanks
Reply With Quote
  #2  
Old 01-11-2011, 05:17 AM
AnythingsPossible AnythingsPossible is offline
Daycare Member
 
Join Date: Jan 2010
Posts: 795
Default

As long as you use the standard deduction for meals, there is no reason to save grocery receipts. You just need to track the amount of meals you serve. My food program sends me a statement at the end of the year that states how many meals I claimed, however, if you serve any additional snacks that can't be claimed on the food program, make sure and note that and also any meals that get disallowed on the food program for whatever reason. Keep records of meal counts, not receipts.
Reply With Quote
  #3  
Old 01-11-2011, 05:20 AM
marniewon's Avatar
marniewon marniewon is offline
Daycare.com Member
 
Join Date: Aug 2010
Location: Michigan
Posts: 895
Default

The best/easiest way to keep track of food for daycare is to use the standard IRS allowance for meals. The standard allowance for meals is:

Breakfast: $1.19
Lunch: $2.21
Snack: $0.66

Do you use MMK for submitting for the food program? There's a place in there where you can print out a copy of all meals you claimed on the food program and what type of meals (lunch, snack, etc).

As far as keeping receipts, you will want to do that for anything 100% dc related (like wipes/diapers, if you don't have your own children in dipes), or anything you can t/s like cleaning supplies, toilet paper, paper towels, etc.
Reply With Quote
  #4  
Old 01-11-2011, 05:55 AM
MommyMuffin's Avatar
MommyMuffin MommyMuffin is offline
Daycare.com Member
 
Join Date: Jun 2010
Posts: 887
Default

thanks for the info.

I use MMK and I am just trying to figure out all the neat things it does. I will have to look for the meal count sheet you are talking about.
Reply With Quote
  #5  
Old 01-11-2011, 06:21 AM
legomom922's Avatar
legomom922 legomom922 is offline
Advanced Daycare.com Member
 
Join Date: Jul 2010
Location: FL
Posts: 1,021
Default

Quote:
Originally Posted by marniewon View Post
The best/easiest way to keep track of food for daycare is to use the standard IRS allowance for meals. The standard allowance for meals is:

Breakfast: $1.19
Lunch: $2.21
Snack: $0.66

Do you use MMK for submitting for the food program? There's a place in there where you can print out a copy of all meals you claimed on the food program and what type of meals (lunch, snack, etc).
I am not on the food program, but plan on using the standard deduction, but I never kept track of what I fed her! Was I suppose to? or is that for the food program only?
Reply With Quote
  #6  
Old 01-11-2011, 09:58 AM
marniewon's Avatar
marniewon marniewon is offline
Daycare.com Member
 
Join Date: Aug 2010
Location: Michigan
Posts: 895
Default

Quote:
Originally Posted by legomom922 View Post
I am not on the food program, but plan on using the standard deduction, but I never kept track of what I fed her! Was I suppose to? or is that for the food program only?
I'm not an expert, but my way of thinking is, if she was in your care, she would have had to eat at your house. Do you have a sign in sheet that you can look back on to figure out how many meals per day she was fed in your care? I would think that as long as you have some way to prove that she was there for the meals that you are claiming, you should be fine.

Editing to answer the actual question...LOL: As far as writing down/keeping track of every single food that you offered her, I don't believe you need to do that unless you are on the food program.
Reply With Quote
  #7  
Old 01-11-2011, 10:10 AM
TomCopeland's Avatar
TomCopeland TomCopeland is online now
Business Author/Trainer
 
Join Date: Jun 2010
Location: St. Paul, Minnesota
Posts: 2,926
Default Standard Meal Allowance rate

You don't need to keep records of what food you served - just a record showing how many meals and snacks were served to each child. You could reconstruct this by looking at attendance records. You could also get the parents to sign a note showing the number of meals and snacks that can be used as a verification by you.
__________________
http://www.tomcopelandblog.com
Reply With Quote
Reply

Tags
food costs, receipts

Thread Tools
Display Modes

Posting Rules
You may post new threads
You may 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
Receipts For Drop-Ins? MaritimeMummy Daycare Center and Family Home Forum 3 08-23-2012 09:27 AM
Do I Need to Save Receipts if I Copy Them? childcarebytori Daycare and Taxes 1 04-29-2012 11:19 AM
Help!!!!Re: Receipts For Food, Etc momofboys Daycare and Taxes 10 02-04-2011 06:45 PM
Taxes: Separate Receipts? legomom922 Daycare and Taxes 25 01-10-2011 07:51 AM
Receipts, Turbo Tax JeepGirl6 Daycare and Taxes 1 01-05-2011 12:45 PM


All times are GMT -7. The time now is 05:26 PM.



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