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Archive for the ‘Employee Management’ Category

Record Keeping and Tax Tips For New & Experienced Child Care Providers

Your goal should be to have receipts for every penny of your expenses.~Red Leaf National Institute

  As I write this blog post, we are less than 30 days away from a new year and this is a great time to tidy up your record keeping practices.  According to Redleaf Institute, it is important that you become familiar with all of the IRS requirements for filing your taxes. In fact, when you are familiar with the IRS requirements and you are more effective in your record keeping endeavors, you will reduce be able to claim the maximum legal deduction, your records will be more organized and you will reduce your taxes. I agree 100% with Redleaf Institute and I have also found that Record Keeping is a vital part of managing a successful childcare business including:

  • Keeping Track of and storing Receipts
  • Knowing when to deduct expenses
  • Keeping track of food expenses
  • Conducting Regular Monthly Reviews of your Bank Statements
  • Handling Employee Taxes
  • Keeping Track of Household Inventory
  • Time Space Percentage
  • Year-end Expenses
  • Home and Building Improvements
  • Utilizing a Financial software to keep track of expenses

To Read the entire article, 10 Record Keeping Tips For New Child Care Provider, click here. Shiketa Morgan Recommended Reading Record Keeping Tips For Child Care Providers

Category:

Administration, Employee Management, Food Program, Record Keeping

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Are You In Compliance with the e-Verify System?

About a year ago, I received a notice in the mail from the Government that informed me that my childcare business was required to verify that my employees were not illegal immigrants. Moreover, the letter indicated that I was required to register my company with e-verify.

After reading the letter, I thought: ” Oh boy one more thing to do!”  Then I thought about the immigration problems that our country was having and I completely understood the reason for the e-verify system.

What is e-Verify?

E-Verify is an Internet-based system that compares information from an employee’s Form I-9, Employment Eligibility Verification, to data from U.S. Department of Homeland Security and Social Security Administration records to confirm employment eligibility.

Does Your childcare business receive funds from the government?

If your childcare business receives funds from the government, it is vital that you register your employees with e-verify, because it is the Law and you do not want to risk losing any government funding.

What I recently discovered about the e-verify system

First of all, I want to be the first to admit to you that I was slacking with this system, however, all of my employees are now e-verified and I am in compliance with the law. Furthermore, I am writing this blog post to share with you three things that I recently discovered after reviewing the e-verify tutorial online:

  • You must conduct a e-verify within 3 days of hiring a new employee
  • You must print and post the following posters : E-Verify Participation Poster and The Right to Work Poster in your business
  • It is the Law! I thought that it was a requirement for businesses receiving government funs only.

You may already be complying with this law and if so, great job. If not, visit the e-verify site today, so that you are in compliance with Employment Eligibility Laws.

For more information on the e-Verify Law, click here

What are your thoughts about the e-verify system? Feel free to share your thoughts by leaving a comment below.

Shiketa

Category:

Business Management, Employee Management, Work Place Laws

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