Daycare Providers Income And Expenses - 2022 - CPA Clinics
Even if you operate your daycare business as a sole proprietor or have no employees, you should obtain an EIN.
Have a bank account that you use exclusively for depositing daycare income and paying daycare expenses.
Some options for tracking business expenses that you pay for with a credit card are:
You may use any recordkeeping method that clearly shows your daycare income and expenses, such as hand-written ledgers, spreadsheets, and business software. You should keep the following additional records.
As a daycare provider, you generally receive income from several sources. Examples include:
All the above items are included in your daycare gross income.
All businesses are allowed to deduct expenses that are ordinary and necessary for the business. The following list is
not all inclusive.
