Tom Copeland's Taking Care of Business Blog

  • Lessons from the 2018 Tax Season

    The 2018 tax season is over! (Except for those family child care providers who filed an extension). Based on reviewing dozens of 2018 family child care tax returns and answering many questions from providers by email and on the phone,...[…]

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  • When all children stay home because they are sick, can I count hours because I’m open?

    You can count hours your home is used for business when calculating your time-space percentage. This can be whenever children are present or when you are doing some business activity in your home when children are not present. But, if...[…]

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  • I Don’t Think I Can File My Taxes by April 15 – What Can I Do?

    The tax filing deadline of April 15th is fast approaching and you haven’t filed your family child care tax return yet. Don’t panic. If you need more time you can file for a six month extension. Sometimes child care providers need...[…]

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  • Budgeting For Family Child Care Webinar, April 22nd

    Budgeting for Family Child Care Providers is my next webinar sponsored by the National Association for Family Child Care. It will be held on Monday, April 22nd from 8:00 – 9:00pm Eastern Time. No one likes to budget! But, you...[…]

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  • The Importance of Business Liability Insurance

    Do you know what to look for when buying a family child care business liability insurance policy? Do you know the difference between “per occurrence” and “aggregate” coverage in your policy? What’s the difference between an “individual policy” and a...[…]

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  • Estimated Taxes Due April 15th

    April 15th is the deadline for family child care providers to file your federal estimated tax payment for the first quarter of 2019. This comes as a shock to some child care providers because it’s the same deadline for paying...[…]

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  • Does Your Vehicle Insurance Still Cover You?

    Probably the biggest financial risk a family child care provider can take is to get into a vehicle with children. You run the risk of multiple injuries, property damage and lawsuits. A family child care provider in Minnesota was transporting...[…]

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  • Does Your Homeowners Insurance Still Cover You?

    The surprising answer for many family child care providers is “probably not.” Homeowners insurance is personal insurance and is not meant to cover risks associated with any business, including caring for children. Homeowners insurance covers three basic things: Your house...[…]

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  • Are Charitable Contributions Tax Deductible?

    When a family child care provider makes a donation to her church, synagogue, or mosque she can claim this as a charitable deduction on IRS Form 1040 Schedule A Itemized Deductions. Likewise, with contributions of used clothing, toys, furniture, etc....[…]

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  • Celebrate National CACFP Week!

    The Child and Adult Care Food Program (CACFP) is a federal nutrition program that works to combat hunger and bring healthy foods to children in family child care homes and centers. March 17-23rd is National CACFP week sponsored by the...[…]

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