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Daycare and Taxes>Time Spent Outside Childcare Hours
Preschool/daycare teacher 09:10 AM 01-21-2016
Can I count hours I spent on childcare related things outside childcare hours, that I have no record of? I have only recorded from Oct - Dec of last year and even then I didn't remember to record everything. I have the total of the time I spent on what is recorded, and someone had said before that I could average it out for the other months? If this is true, will it matter if I get audited and I don't have any record of specific time spent during those months, but tell them I averaged it out? It's not very much since I don't always remember to record it, so even the average is really low. And my income from childcare this year was pretty low too since starting out for most of last year I only had one child or two at the most at a time.
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TomCopeland 11:14 AM 01-22-2016
Originally Posted by Preschool/daycare teacher:
Can I count hours I spent on childcare related things outside childcare hours, that I have no record of? I have only recorded from Oct - Dec of last year and even then I didn't remember to record everything. I have the total of the time I spent on what is recorded, and someone had said before that I could average it out for the other months? If this is true, will it matter if I get audited and I don't have any record of specific time spent during those months, but tell them I averaged it out? It's not very much since I don't always remember to record it, so even the average is really low. And my income from childcare this year was pretty low too since starting out for most of last year I only had one child or two at the most at a time.
Since you have 3 months of records, use the average for the rest of the year. There is no law requiring you to keep 12 months of records. Tracking 2 months each year is enough.
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Preschool/daycare teacher 07:30 PM 01-22-2016
Great! Thank you so much!
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