Tax Preparation for Child Care Providers
We are Child Care Tax Specialists. Child care providers are more than one half of our business because Pat Michael understands tax preparation and financial services for child care providers probably better than any other tax preparer you’ve ever met with. Why?
Because Pat’s wife provided in-home child care for more than 25 years so he knows exactly what goes into your business, and he knows every deduction you are eligible for. With over 25 years specializing in tax preparation and financial services for child care providers – we are not exaggerating when we say we are The Child Care Tax Specialists.
And Pat shares his expertise! For more than 18 years, as a service to the community, Pat has been sharing his knowledge and know-how with child care providers in his free seminars on taxes, record-keeping, audits, general tax law, and best practices through the YMCA Child Resource Services in Mission Valley, San Diego. As part of their licensing & certification training of child care providers, the CRS considers Pat their subject-matter expert in the field of child care tax preparation, record-keeping, audits and general tax law.
CHILD CARE BLOG US-TAXLAWS BLOG
Crime Prevention and Emergency Handbook
Home Fire Safety Self-Inspection Checklist
Tax interview Checklist
Child care provider medical safety checklist
Provider Meal and Snack Log The Baby Name Wizard IRS FORMS Exclusive Use Rule HOME OFFICE DEDUCTIONS POLICIES & PROCEDURES Checklists, Mail & Mileage Logs IMPORTANT TAX DATES Articles & Books GLOSSARY OF TERMS
- Use our Form W-10 to provide your tax id number to parents. It has one W-10 for you, and one for the parents.
- Make a copy of all receipts. The thermal paper receipts will fade. Don’t throw them away. Keep them in an envelope. You may want to staple it to the photocopy.
- Keep all grocery receipts (even for personal food). You may be spending more than you will get credit for under the standard meal allowance rates.
- Track all meals served to day care children, even those not reimbursed by a food program.
- Track hours when children are not present.
- Do you have an inventory of your home furnishings when you started (or within a few years of starting your business)?
- Depreciation will benefit you and it is not optional.