Happy New Year from Tom Copeland, the nation’s leading expert on the business of family child care. Tom has years of experience working with family child care providers, and provides excellent tax advice. If you are a KidKare user and want to receive even more advice and tips from Tom, join the Child Care Business Partnership today for only $15.

Tom Copeland’s tax tip for in-home child care providers

As you get ready to do your taxes for 2018, now is the time to review the data you have entered into the KidKare Accounting section for 2018. Make sure you entered:

• All of your business expenses
• All of the hours you worked in your home when children were not present
• All of the business miles you drove
• All of the meals and snacks you served, particularly those that were not reimbursed by the Food Program

It’s not too late to enter this information into KidKare. Look over your records to see if you missed entering some of this data. Look at your check register, bank statements, credit/debit card statements, receipts, photos, calendar notations, and so on. Even small numbers will add up to meaningful tax savings.

As the new year begins, make a New Year’s Resolutions to keep current in entering this data into KidKare for 2019. The more complete your records, the lower your taxes!

Make sure to sign up for our KidKare newsletter to receive Tom Copeland tips monthly! 

Check out more of Tom’s child care resources to help you prepare for a successful year.

• 2018-2019 Food Program Reimbursement Rates Announced – The CACFP reimbursement rates for family child care providers until June 30, 2019
• The Food Program is Still a Great Deal! – Tom Copeland explains that even though the Food Program rates have not increased, the Food Program is still a great deal!
• Join the Food Program and Get Paid to Serve Nutritious Food – The Child and Adult Care Food Program (CACFP) offer many benefits for child care providers. Tom Copeland goes over the common objections to the Food Program and explains why you should consider joining.
• What Does Your Tax Preparer Need to Understand About Your Taxes? – Do you wonder if your tax preparer understands your business taxes? Learn the tips and resources needed to properly explain your child care business in detail during tax time.
• Common Mistakes Providers Make on Their Taxes – Tom Copeland lists out the common mistakes that providers make on their taxes and how to avoid or fix them.