Who Will Look After The Children when Uncle Sam Is Auditing You? Why Child Care Providers?
- Record keeping is often inadequate.
- Often receive reimbursements from government agencies.
- Income and expenses are often paid in cash.
- A net loss is unusual, except at the corporate level.
Each of the categories below has unique tax consequences. Learn the specific requirements when you order Uncle Sam's Tax Audit Assistant for Child Care Providers. Regardless of the type of child care you are providing, the Internal Revenue Service tax auditor will examine your records to obtain answers in the following areas:
- Wages/Compensation
- Utilities
- Travel, Meals, Entertainment
- Telephone Expenses
- Supplies
- Start-Up Costs
- Rent
- Other Income
- Other Expenses
- Insurance
- Income
- Expenses
- Employee Benefit Program/Pension and Profit Sharing
- Depreciation
- Commissions and Fees
- Car and Truck Expense
- Business Use of Home
- Bad Debts
- Advertising
