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| Taxes | ||||||||||||||||||
| FINANCIAL RECORDS, FEES, AND TAXES | ||||||||||||||||||
| ChildCare Expenses | ||||||||||||||||||
| Childcare business | ||||||||||||||||||
| Child day care business | ||||||||||||||||||
| Tax Deductible Business Expenses | ||||||||||||||||||
| Food Expenses | ||||||||||||||||||
| Home Office Expenses (ex: Casualty losses, Mortgage interest, Real estate taxes, House insurance, Apartment rent, House repairs and maintenance, Utilities, House depreciation, Personal property depreciation, Home improvements, Land improvements, Household supplies and toys) | ||||||||||||||||||
| Business Expenses | ||||||||||||||||||
| Advertising (ex: newspaper ads, T-shirts, radio ads, buttons, a rubber stamp with your business name and/or address, tote bags, bumper stickers, signs (yard, magnetic, and window), business cards, balloons, an answering service, flyers, a Yellow Page listing, membership dues to business organizations) | ||||||||||||||||||
| Bad debts | ||||||||||||||||||
| Car expenses (ex: mileage) | ||||||||||||||||||
| Employee benefit programs (ex: health, dental, retirement) | ||||||||||||||||||
| Insurance (ex: liability, accident) | ||||||||||||||||||
| Legal and professional services (ex: tax preparation, accounting, attorney, bookkeeping service) | ||||||||||||||||||
| Office expenses (ex: bank charges, books, cards for parents or children (birthday, holiday, get well), bulletin board, business forms, calendar, cellophane tape, chalkboard, computer supplies, software, disks, paper, printer ribbons, subscriptions to on-line services, membership dues, education and/or training, envelopes, ledger, magazines, notebook/notepads, paper, parent contracts, pencils, pens, pencil sharpener, photocopying costs, pocket calculator, postage, stamps, post-it notes, provider newsletter, receipt books, stapler, TDD) | ||||||||||||||||||
| Rent of business property (ex: VCR movies, computer games (Nintendo), carpet cleaning machine, party equipment) | ||||||||||||||||||
| Repairs and maintenance of personal property (ex: cleaning service, diaper service, dry cleaners) | ||||||||||||||||||
| Cleaning Supplies (ex: air fresheners, baby wipes, bath towels/bath mats, bleach, broom, cleansers, clothes hamper, clothes iron, clothespins, diaper bags, diaper service, dishwasher detergent, dust mop, dustpan, electric dust buster, fabric softener, furniture polish, hand towels, insect spray, Kleenex tissue, latex gloves, Laundromat costs, laundry and cleaning service, laundry baskets, pail or bucket, paper towels, rug cleaner, scouring pads, soap (hand, dish, laundry), soap dispenser, sponges, stain remover, toilet bowl cleaner, toilet paper, toothbrush and toothpaste, vacuum cleaner, vacuum cleaner bags, washcloths, wastebasket, wet mop, window cleaner) | ||||||||||||||||||
| Maintenance Supplies (ex: candles, flashlight, flashlight batteries, pest control, poison prevention stickers, salt for water softener, service contracts on appliances (washer, dryer, stove, refrigerator, microwave), window shades) | ||||||||||||||||||
| Children's Supplies (ex: art and craft supplies, backpack, baby intercom system, baby swing, baby walker, balls, jump rope, frisbee, skateboard, batteries for toys, bib, blocks, logos, board games, booster seats, brushes, cassette player, chalk, chalkboard, changing pad, charcoal, children's aprons, children's books, children's furniture (stove, chair, sink, refrigerator), clay, collage material, construction paper, cots, crayons, cribs, diaper pail, disposable diapers, dolls, doll clothes, dress-up clothes, dry markers, easel, fabric, field-trip fees (zoo, museums, parks), flannel board, floor mats, glue, headphones, high-chair, holiday decorations, homemade toys, infant seats, carriers, magnets, magnifying glass, markers, mattresses, milk deliveries, mirrors, mobiles, monthly children's curriculum (Kapers for Kids, Little People's Workshop, Kaleidoscope Curriculum), music box, musical instruments, nap mats, paint, paintbrushes, paper, party favors, paste, pegboards, pencils, plastic crates, play dough, playpen, potty chair, presents purchased for your own children but used by daycare children, props for pretend play, puppets, puzzles, rattles, records, tapes, videotapes, record player, riding toys, roller skates, ice skates, sand-and-water table, scissors, small toys, smocks, songbooks, stacking, nesting toys, stencils, stickers, labels, stuffed animals, teething toys, tempera paint, thermometer (child, bath, refrigerator, stove), tissue paper, wading pool, wagon, walkers, strollers, water colors, water toys, wind chimes, yarn) | ||||||||||||||||||
| Kitchen Supplies (ex: aluminum foil, apron, baking dishes, beater, birthday and holiday cakes and catered food, blender, bowls, cold packs, cookbooks, cookie sheets, cookie cutters, cooking timer, cutting board, dish towels, dishes, electric can opener, food processor, garbage bags, garbage can, glassware, knives, matches, measuring cups and spoons, mixer, napkins, paper plates and cups, plastic bags, plastic ware, plastic wrap, popcorn popper, potholders, pots and pans, serving dishes, silverware, tablecloth, tupperware, utensils, waffle iron) | ||||||||||||||||||
| Taxes (ex: Social Security, Medicare, federal unemployment, state unemployment, workers' compensation) | ||||||||||||||||||
| Licenses (ex: social service dept, medical exams and x-rays, zoning permits, finder printing and background checks, fire or health dept fees) | ||||||||||||||||||
| Travel meals, and entertainment (ex: mileage, car rental, airplane, bus, train, taxi, lodging) | ||||||||||||||||||
| Telephone (ex: phone (house, cordless, cellular), second phone line, long- distance business calls, call waiting, call forwarding, caller ID, custom ringing, fees for the repair of the phone or phone lines, an answering machine, a separate business listing in the Yellow Pages) | ||||||||||||||||||
| Wages (ex: employees, hiring your older kids) | ||||||||||||||||||
| Household items (ex: appliance latches, bath mat, bathroom scale, bicycle helmet, bicycles, blankets, sheets, pillows, pillow cases, booster seat, car seat, bottled water, bug bombs, cable TV fees, camping equipment, child locks, choking toy tube, clocks, cubbies, electrical cord shortener, extension cords, firearm locks, fire escape ladder, fire extinguisher, fireplace fixtures/screen, flowers, flower boxes, first-aid kit, indoor or outdoor thermometer, medicine cabinet lock, medicines, mirrors, might light, nonskid appliqu�s, outdoor business signs, pet muzzle, photography film, photo album of child care pictures, photo development, power strip electrical outlet, safety barriers, safety caps for electrical outlets, safety racks for firearms, shelving, sleeping bags, smoke detectors and batteries, space heater, stair gate, storage containers, syrup of ipecac, tools (hammer, nails, screwdrivers, saw, ladder), tricycles, umbrella, VCR cover, wall posters, water cooler, weather stripping products for doors and windows, window and bed guard, window shades, wood for wood-burning stove, heater, or fireplace) | ||||||||||||||||||
| Yard Supplies (ex: bug killer, firewood, garden hose, garden tools, gas for lawn mower, gloves, hoe, lawn maintenance service, lawn mower, lawn sprinkler, rake, sand, sand box, saw, shovels, weed killer, wheelbarrow) | ||||||||||||||||||
| Activity expenses (ex: swimming lessons, gymnastics) | ||||||||||||||||||
| Capital expenditures (ex: House, Home improvements, Land improvements, Personal Property, Car) | ||||||||||||||||||
| Tax Preparation fees (ex:your tax accountant fees) | ||||||||||||||||||
| There are several more deductions that your tax preparer or accountant should be aware of. | ||||||||||||||||||