Where To Go For Tax Info and Advice
Knowing all the tax requirements for running a child care business isn’t easy. Even when you hire an accountant or go to a tax preparer, there are times when an itemized deduction may be missed or miscalculated. That’s why it’s important for child care providers to understand of the tax laws of their business. Because at the end of the day it is your signature on the line.
Where Can You Find Information and Advice?
One source of information is the IRS Child and Adult Tax Center. Here, providers can find forms and publications to help them with their child care business. Providers can also find information about the food program, audit techniques, and a tax compliance video. Just follow this link for more information.
Another great resource is Tom Copeland. Copeland is based out of Minnesota and has worked as an advocate, author and trainer on the business of family child care since 1981. His Taking Care of Business blog includes lots of information about record keeping and taxes.
One of Copeland’s recent blog posts focused on knowing what is on your tax return. It’s definitely recommended reading as we close in on the April tax filing deadline. Check it out and get informed. Because, like we said, it’s your signature on the line.