Tag Archives: taxes

January 5, 2017 Tax & Recordkeeping Workshop (Escondido)

Come join us on Thursday evening, January 5, 2017 from 6:00pm – 9:00pm, in Escondido!  You could win free tax prep services!

The Business of Family Child Care:  Tax & Recordkeeping

  • Get valuable tax preparation & record-keeping advice!
  • Learn about allowable deductions that most tax preparers miss!
  • Ask questions – get answers!

Palomar Family YMCA, 1050 N Broadway, Escondido, CA 92026

Cost:  $15.00 per person

Space is limited so register today!  Call now 1-800-481-2151  or go online to mytraining@ymca.org

 YOU COULD BE THE WINNER…

FREE 2017 INCOME TAX PREPARATION!

If you attend a YMCA CRS sponsored tax workshop you have a chance to be the LUCKY WINNER to receive FREE tax preparation services for 2017 Federal/State 1040/540 Forms.  All other attendees will receive 25% off 2017 tax preparation services.  Presentation & offer provided by R. Patrick Michael, EA and applies to new clients only.

What’s the “Cost of Cash” to Small Business Owners?

Pause ButtonDEBIT CARD? CREDIT CARD? CASH?

“Some small business owners are intimidated by the thought of accepting credit and debit card payments. And that’s understandable- with the prospect of paying fees, plus the cost of acquiring new point of sale terminals, electronic payments can seem daunting.” (SCORE ). They made some really good points, such as: Continue reading →

Tax Advantages You Need to Keep In Mind

Small CCP teaching children

 

ChildCareTaxSpecialists.com  (CCTS) is always looking for informative content to help you with your in-home business.  The fact that your business of child care has the greatest opportunity to maximize deductions for your home business, makes it all the more important.

[CCTS Says: before you start to read, you might want to take a look at our FREE GUIDE The World of Child Care Providers Taxes & Recordkeeping.  You will also want to check out our FREE checklists and templates for keeping records. All of our documents are free, downloadable and toner friendly.  Just click here.] Continue reading →

When not to use Time-Space Percentage

Don’t Guestimate Your Taxes

Tom Copeland wrote a great piece for National Association for Child Care (NAFCC) that is worth sharing with you.

“How much of the cost of an item can I deduct as a business expense?” is a common question of family child care providers. In general, providers should use their Time-Space Percentage to determine the portion that is deductible for items used by their business as well as their family. Such items include property tax, mortgage interest, furniture and appliances, toys, supplies, and more.

For some shared business and personal items, however, the Time-Space Percentage should not be used. These special items, called “listed property,” include a computer, printer, copy machine, fax, television, VCR, cell phone, and vehicle. For these items providers must calculate an actual business use percent, which means determining what percent of each item was used in the business.To read the rest of the article visit NAFCC.

January 24, 2015 T&R Workshop Flyer for YMCA CRSDon’t forget to register to attend our Tax & Recordkeeping Seminar on January 24.  Details for registration here.

 

 

Finished With Taxes? Not just yet.

What Should You Keep?

Med size man staring at filesNow that April 15 has come and gone – you may look at this time as an opportunity to clean up, clean out and get organized.  We will be writing about tips to freshen or set up your in-home office to help you in your recordkeeping, but before we go there… let’s talk about your tax files first and what you need to keep.

Begin by gathering all of the documents and files that you pulled together to prepare your taxes. Continue reading →