Inspirational and Empowering Child Care Business Owners To Build Successful Child Care Businesses

Posts tagged ‘Business Finances’

Issuing Tax Statements To Parents

At the end of every year, I begin to prepare childcare totals for each family. Then in January, I send home a statement for each family that indicates the amount of childcare expenses paid to me for the previous calendar year. In fact, I believe it is vital that you issue  childcare tax statements in a timely manner (preferably by January 31st), so that parents can file their child care expenses on their tax return. A tax statement does not have to be a fancy document. However, it must contain the following information for tax purposes:

  • The name of your Business
  • Your Business phone number, Address, City State and Zip Code
  • Your Tax Id Number or Social Security Number
  • The Name of the child that you provided care for
  • The Amount Paid to you for childcare services
  • Be sure to sign the document

If you do not have a Tax ID number, you may want to consider applying for one to issue to parents for tax purposes.  As you are in the process of preparing statement, be sure to issue a parent letter  or post a notice that indicates when tax statements will be issued. If you do not have a Parent Tax Statement form to issue to parents, I have created one for you—>  Click here (Be sure to change the tax year on the form)

I wish you Continued Success!

Shiketa

5 Simple Strategies To Makeover Your Money Management Skills

intermediateaccounting

This week I want to inspire you to improve or makeover the way that you manage your money in your Business. In fact, I believe this, if you don’t manage your money effectively, you could soon be out of Business. Money is the lifeline of your business and when it is not effectively managed, you can have some major cash flow problems.

Furthermore, I want you to throw away this excuse: “ I’m not good with money.” Excuses will only hinder your success and today I am going to give you 5 simple strategies to makeover your money management skills. Ready!…. Here we go!

Click Here To Read More

To Your Success,

Shiketa

I look forward to reading your comments about this Blog post below.

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