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Attribution Meals to Daycare

SKU: SF131va

MS_Excel

Whether you are in the USA or Canada this tool will simply your deduction for you.  Utilize the tool and provide it to your accountant.

MAXIMIZES on your deduction and SAVES you money in bookkeeping fee's.

Revenue Canada states that as long as the expense claimed associated with these daycare related activities are reasonable, it will be allowed.Tool to assist to calculate the percentage of business USERS of total users. Business % compared to purchases or flat rate claim to obtain business expense.

IRS states: You have two options when claiming a deduction for the meals you provide for day care children. One option allows you to claim the standard meal allowance, which is based on the number of meals and snacks served to the children during the year. The other option requires you to keep track of all food expenses, including those for personal food, and bases your deduction on your actual expense. No matter which option you choose, accurate record keeping is vital to help you get the most from your deduction.

Standard Meal Allowance

In order to claim the standard meal allowance, you need to have an accurate count of the types and number of meals served, according to Internal Revenue Service Publication 587. For your protection in the case of an audit, your records must include the names of the children served and the dates and hours of their attendance. An easy approach is to purchase a record keeper designed for day care attendance and meal records or to use the "Family Day Care Provider Meal and Snack Log" suggested by the IRS. Taking the time to log attendance and meal details on a daily or weekly basis will save you time and hassle at the end of the year.

Once you have totaled your meals by category (breakfast, lunch, dinner, snack), you can claim a deduction based on the standard meal and snack rates issued by the IRS. For all states except Alaska and Hawaii, the standard rates are $1.17 for breakfast, $2.18 for lunch and dinner and 65 cents for snack. In Alaska and Hawaii, the rates are higher at $1.86 and $1.36 for breakfast, $3.53 and $2.55 for lunch and dinner, and $1.05 and 76 cents for snack, respectively.

If you participate in a state-sponsored food program, "You can deduct only the portion of the applicable standard meal or snack rate that is more than the amount of the reimbursement," according to the IRS. Any meals that you served to day care children that were not reimbursed by the food program can be deducted at the full standard rate.

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