In our latest Redleaf Press® Author Spotlight, we chatted with the nation’s leading trainer, author, advocate, and expert on family child care business issues, Tom Copeland, JD. Tom is full of information that can help you save time, money, and much stress during tax season — his annual editions of Family Child Care Tax Workbook and Organizer and Family Child Care Tax Companion are the best ways to ensure that you get the most out of your return, stay up to date on the latest tax laws that affect your business, and take advantage of all the business deductions that you’re entitled to claim. With tax time in full swing, we thought we’d share this handy advice from Tom:
The three most important record-keeping tasks that all providers, new and experienced, should follow throughout the year are:
- Save receipts for all expenses associated with your home
- Keep records of all the meals and snacks served to the children in your care (particularly those that are not reimbursed by the Food Program)
- Track all the hours you use your home for business (particularly those hours spent on business activities when children are not present in the home)
Good luck, and happy filing!