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Daycare and Taxes>Finding A Tax Prof Who Really Knows Home Daycare??
Crazy8 12:56 PM 10-03-2011
A relative does our taxes and I adore him and he owns his own accounting firm so I don't doubt his ability but I just wonder if we are getting all the deductions we should because of the nature of the home daycare business - it is so different from others and he relies heavily on what I give him - which is just what I've learned from Copeland's books. I don't know if *I* am giving him everything I should be.

So, is there a way to find out who REALLY knows the home daycare business in the tax world???
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Blackcat31 12:58 PM 10-03-2011
I was in the same boat as you. My DH's aunt did our taxes and I really felt like she did a good job, just didn't go out of her way to find all the latest updates and things I could be writing off so I "gifted" her a set of Tom's books and many referrals for tax preperations for families I had in care as well as area providers I knew.

Tax time is now much better for us.
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grandmom 03:32 PM 10-03-2011
Get 2 copies of Tom Copeland's books.

You read one and give one to your tax guy.
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snbauser 03:42 PM 10-03-2011
You can search NAFCC's website that lists tax preparers that are trained by in family child care rules.

http://nafcc.org/index.php?option=co...article&id=499
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wdmmom 04:26 PM 10-03-2011
I used a few different tax reps since doing daycare. I even had my new accountant check to make sure I got all of the deductions I could take the year before. He did this for me at no extra charge. I know H&R Block will look at last years also for no cost. (Although I highly don't recommmend them.)

If you are needing someone with more experience, knowledge, and credibility, look in the yellow pages or contact a few other people that do daycare in your area and see who they use.
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sharlan 05:24 PM 10-03-2011
Originally Posted by wdmmom:
I used a few different tax reps since doing daycare. I even had my new accountant check to make sure I got all of the deductions I could take the year before. He did this for me at no extra charge. I know H&R Block will look at last years also for no cost. (Although I highly don't recommmend them.)

If you are needing someone with more experience, knowledge, and credibility, look in the yellow pages or contact a few other people that do daycare in your area and see who they use.
I had H&R Block do my taxes for almost 15 years, they just got too expensive. One of the benefits of Minute Menu is you just print it all off and hand to your tax person.
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Crazy8 12:25 PM 10-06-2011
thanks, I did offer him my Tom Copeland tax workbook one year but he often just has his employees do our taxes and I doubt he ever looked it over.

I don't see anyone in my area on the NAFCC website either. How does Minute Menu work? I assume you still have to input all kinds of info on expenses, bills, etc. I do that all in excel spreadsheets so not sure how Minute Menu will really make a difference.
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Unregistered 06:06 PM 10-06-2011
As a tax preparer I'd like to give some input:

Don't wait until the last minute to have your taxes prepared. Go early, beat the rush. You'll have a fresher preparer. That is the nature of busy season.

Understand your tax return. Know if you are getting the deductions you are allowed. Doesn't mean you need to preform the calculations. Signing a tax return you do not understand is like signing a blank check.

Keep the records your tax preparer asks you to keep. Don't whine. We ask for them because the IRS will ask for them in an audit. And if you don't have them you lose a deduction, your taxes increase and you get to pay penalty and interest. Keep the records.

Ask him if he would like the book for the office in general. Get to know the person doing your tax return if he isn't. They may have more time then him. They may actually find more deductions then him. And pay the going rate, not family. Do you give a family discount for child care? We have licenses, software, an office for you to come to, copier, insurance, and so one to maintain.

We have many clients that mail their tax info to us and we mail back. If there is someone you want to use, distance really should not be an issue.

Thanks for letting me input.
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jojosmommy 12:18 PM 10-10-2011
GOOD LUCK! I had a terrible experience with a supposed "daycare tax expert" paid in a ton, got reviewed, owed a bunch in fines, needed to have a seperate year ammended, and two yrs later am still dealing with it.

I caught all the mistakes he made (minus the one we got "reviewed" on by the IRS) the year after my first filing year doing daycare. When I brought it up he said "wow your right". I think Tom Copelands book is priceless however I think you basically have to do them yourself BEFORE you hand them over to someone anyway and then double and triple check that there aren't deductions missed.

I found a new guy and even with MM kids and Toms book I feel like I have to double check he hasn't missed anything.
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Tags:h&r block, tax preparer, tom copeland
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