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

Posts tagged ‘daycare’

A Newly Revised Summer Camp Planning Guide!

In the spring of 2012, I wrote a book titled: Summer Camp Planning Guide for childcare business owners. Since I’ve published that book, I have planned many successful summer camps and gained more knowledge about how to effectively plan for a Summer Camp.

I was recently inspired to revise and update my Summer Camp planning guide. Furthermore, in the 2nd edition of my Newly revised Summer Camp eGuide, I share: an updated list of Summer Camp Marketing tips, newly added planning pages, there’s a revised list of summer camp themes, inspiration for planning a camp with your vision in mind along with sample forms.

Have you started planning your summer camp? Do you need some fresh insight on planning for a successful summer camp? Don’t know where to start?

My newly revised summer camp planning guide will help you to plan for a successful summer camp, provide you with lots of fieldtrip ideas, planning ideas and lots of safety insight.

This is the time to start planning and marketing your summer camp. Download your copy of my Summer Camp planning Guide today!

Happy Summer Camp Planning,

Dr. Shiketa Morgan

Category:

Marketing

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Tax Filing Habits For Child Care Business Owners

Photo by Nataliya Vaitkevich on Pexels.com

As I write this post we are only 30 days from the April 15th tax deadline. However, before you file your taxes, I want share with you five ways to get organized and share a lost of items that you may deduct as a business owner.

A childcare business comes alonvg with lots of expenses or as some would say, a very large over head.

In fact, as a childcare business owner myself, I’ve learned that almost everything seems to be a tax expense and it is truly necessary to keep a letter size envelope with you just to keep up with receipts.

I’m not a CPA, but I have done my own business taxes for over 25 years using Turbo tax to file my taxes every year without any audits.

Today I simply want to share some tax filing tips with you that I’ve used for many years and I believe that the tips that I’m going to share with you today will help you to get prepared for your upcoming tax filing.

5 habits that lead to a more organized tax preparation:

  1. Create an expense folder for operating expenses.
  2. Use a book keeping program and enter business expenses into the accounting program as you get receipts.
  3. Enter your income into your accounting program weekly or monthly.
  4. Use a payroll company to process payroll and file all payroll reports on a virtual folder. If you are old school like me, file reports on a 3 ring binder.
  5. File business expense receipts daily.

Expenses to claim on your taxes

  1. Rent or Lease payments
  2. Mortgage interest for home daycare providers
  3. Supplies
  4. Utililities
  5. Gas
  6. Insurance (Health/ liability/homeowners)
  7. Payroll
  8. Tax deposits
  9. Events
  10. Professional Development
  11. Medical cost ( health, dental, chiropractor, vision etc)
  12. Communication ( cell phone, internet, etc)
  13. Marketing ( website, ads, flyers)
  14. Vehicle Expenses
  15. Donations
  16. Travel Expenses
  17. Building or home repairs
  18. Food for the children
  19. Equipment purchases
  20. Alarm services
  21. Inspections/License/ Legal fees

That was a short list of expenses that you can claim, however. I hope that you are prepared to claim all your business expenses.

Keep this in mind, the more expenses that you claim, the less taxes you will owe.

Moreover, the amount of taxes that you pay is also determined by other factors that I have not mentioned in this post. I do suggest that you consult a CPA if you have tax questions or if you need assistance, I’m available for coaching.

Happy Tax filing 😊

Dr.Shiketa Morgan

Get my newbook, Child Care Business Success Habits!

Category:

Accounting, Taxes

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