This is Tom Copeland's Typepad Profile.
Join Typepad and start following Tom Copeland's activity
Join Now!
Already a member? Sign In
Tom Copeland
St. Paul, Minnesota
Writer, trainer, advocate on the business of family child care
Interests: reading, Mark Twain
Recent Activity
Image
Y ou've completed your 2014 taxes. Congratulations! Here's a checklist of final steps you should take as a family child care provider before you can forget about last year's taxes: 1) Gather all your business records that you used for your 2014 tax return and put them with a copy... Continue reading
Image
It's natural to love the children in your program and want to show your love in every way you can. The only problem with this natural desire is that too many providers make the mistake of thinking that expressing their love means spending more money on the children. But showing... Continue reading
Image
I strongly recommend that all family child care providers join their local, state, and national family child care association. There are many reasons to do so. Family child care associations can offer benefits such as: * Association meetings/conferences where providers can meet and get support from other providers * Discounts... Continue reading
Image
"Together We Can" is the slogan for the 2015 annual conference of the National Association for Family Child Care to be held July 15-18th in Bloomington, Minnesota. Registration is now open. Early Bird Pricing is available until May 4th. I'll be giving two pre-conference sessions on Wednesday, July 15th. The... Continue reading
Image
Many family child care providers wait until they file their 2014 tax return before making a contribution to their 2014 IRA. Here's a simple way to boast your retirement savings. Contribute to your IRA at the beginning of the year. This will generate substantially higher returns than if you wait... Continue reading
Image
Wednesday, April 15th is the deadline to submit comments on the new Child and Adult Care Food Program (CACFP) proposed new meal patterns that will affect your business. The intent of the proposed rule seeks to improve the nutrition and health of children enrolled on the Food Program. The proposed... Continue reading
Image
April 15th is the deadline for family child care providers to file your federal estimated tax payment for the first quarter of 2015. This comes as a shock to some child care providers because it's the same deadline for paying your 2014 taxes. Most child care providers do not need... Continue reading
Image
Most family child care providers are well aware of the need to keep business records. Such records include receipts for items used in your business, children's attendance records, records of the hours worked in your home, records of the meals and snacks served to the daycare children, mileage records, and... Continue reading
Image
What do a gun safe, egress window, dog fence, and yard fence have in common? They are all items that many state child care licensing rules require family child care providers to install to keep children safe. And, because of this, 100% of the cost of such items may be... Continue reading
Image
It's almost April 15th 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 more time to calculate their depreciation deductions, sort out their records, or deal with a... Continue reading
Image
March 31st is the deadline to join The Child Care Business Partnership and have Tom Copeland Review Your 2014 Tax Return! Do you worry if your 2014 tax return will be prepared properly? Did you take all of the allowable business deductions you are entitled to? Did you take advantage... Continue reading
Image
Here's a review of the key business tax forms you must file and the order you should be filling them out. Form 8829 Expenses for Business Use of Your Home On this form you will enter the numbers that will be used to determine your Time-Space Percentage. This includes the... Continue reading
Image
Before signing your tax forms and sending them to the IRS, use this checklist to spot potential errors on IRS Form Schedule C Profit or Loss From Business. [] If you have an EIN, enter this number at the top of the form, rather than your Social Security number. Do... Continue reading
Image
Before signing your tax forms and sending them to the IRS, use this checklist to spot potential errors on IRS Form 4562 Depreciation and Amortization. [] Part I: Did you purchase any furniture, appliances or equipment that was used more than 50% in your business? If so, you can use... Continue reading
Image
My March webinar on Minute Menu Kids Pro was so well received, I decided to offer it again on April 14th! Minute Menu Kids Pro is the most comprehensive online record keeping software designed specifically for family child care providers. Unfortunately, not all providers who use this software are taking... Continue reading
Image
Before signing your tax return and sending it to the IRS, use this checklist to spot potential mistakes on your IRS Form 8829 Expenses for Business Use of Your Home. [ ] Line 1: Is the number on this line less than line 2? If so, it means you didn't... Continue reading
Image
Here are some questions I've answered for family child care providers over the past week: Q: If I use Minute Menu Kids Pro software, what reports should I print out and give to my tax preparer? A: Schedule C Worksheet; Schedule C Detailed Worksheet; Form 8829 Detailed Worksheet; Standard Meal... Continue reading
12
Image
Minute Menu Kids Pro is the most comprehensive online record keeping software designed specifically for family child care providers. Unfortunately, not all providers who use this software are taking advantage of its many benefits. To help address this problem, I'll be offering a webinar, "How to Effectively Use Minute Menu... Continue reading
11
Image
Family child care providers who set financial goals for their family are more likely to reach those goals than providers who don't set goals. It's common sense. It's not too late to set financial goals for 2015. Sometimes the hardest thing to do is to take that first step and... Continue reading
Image
No! Unfortunately, many family child care providers and tax professionals make this mistake. They assume that they can treat a person who helps them care for children as an independent contractor because they pay the person less than $600 a year. Wrong. When you hire someone to help you care... Continue reading
Image
Gina, a family child care provider, called me with a problem and asked for my advice. "A father in my program won't follow my rules. He refuses to notify me when his schedule changes, so I don't know what days his child will be here. He and the mother are... Continue reading
Image
For more information: * "What's Deductible in a Family Child Care Business" * "How to Claim Food Expenses" * "The Single Most Important Thing You Can Do to Reduce Your Taxes" Tom Copeland - tomcopelandblog.com For further information see my Family Child Care Record Keeping Guide. Continue reading
Image
At tax time it's reassuring to see how much you can deduct as a business expense for all of the items you purchased last year. The more things you purchased last year, the lower your taxes will be. In fact, for every $100 you spend on items for your business,... Continue reading
Image
"You can deduct it!" This is probably the main message I've been spreading over the past thirty years to family child care providers across the country. I've identified over 1,000 allowable business deductions in my book, Family Child Care Record Keeping Guide (9th edition). But not every expense is deductible... Continue reading
20
Image
It started as a normal day in Kim Mueller's family child care home in Minnesota, when suddenly four unrelated children started vomiting within thirty minutes. She suspected that it was an outbreak of Norovirus, so she immediately called the parents and asked everyone to pick up their children as soon... Continue reading