Four Webinars on Record Keeping and Taxes to Start the Year

Tom Copeland will present four webinars in January and February to help you organize your records and avoid mistakes on your tax return. For the first time I’ll be hosting two of the webinars on a Saturday!

Thursday, January 5th (8:30pm Eastern Time): 8 Things Every Provider Should Know About Organizing Their Paperwork

Are your business records as organized as they should be? This webinar will tell you:
– Which records you can keep and which you can toss
– How long to keep your records
– What records your tax preparer needs to have
– How to organize your records to save time
– How to use the space in your home to better manage your records

Saturday, January 21st (11:00 am Eastern Time): What’s New? Tax Changes You Should Know for Your 2016 Tax Return

Each year Congress passes new tax laws that affect family child care providers. This webinar will cover all of these new laws and explain how you can take advantage of them to reduce your taxes. The webinar will cover:
• New mileage and standard meal allowance rates
• New repair vs. improvement regulations
• New $200 and $500 rule for deducting items
• New rule that may allow you to deduct home improvements in one year
• New IRA (MyRA), and tax credits you may be eligible for

Tuesday, February 7th (10:00 pm Eastern Time): The Top Five Tax Deductions Every Family Child Care Provider Should Know About

Many family child care providers pay too much in taxes each year because they don’t know all the tax deductions they are entitled to claim. This webinar will cover:

  • The key tax deductions that will save you the most money on your taxes
  • How to defend your tax deduction if your tax preparer doesn’t believe you can deduct it
  • What records you need to have to claim your deductions
  • How to reconstruct your records if you don’t have them

Saturday, February 25th (11:00 am Eastern Time): Your Most Important Tax Number: The Time-Space Percentage

Calculating your Time-Space Percentage correctly is the single most important thing you can do to reduce your expenses. That’s because this percentage will be applied to thousands and thousands of dollars of house-related expenses: property tax, mortgage interest, house insurance, house repairs, utilities, and house depreciation. This webinar will cover:

  • What hours you can count for your Time Percent when children are not present in your home
  • How to keep an accurate record of the hours you work in your home, particularly when children are not present
  • How to determine the total square footage of your home
  • How to determine if a room in your home is used “regularly” or only “occasionally” for your business
  • How to determine if you can use the “exclusive use room” rule to greatly increase your Time-Space Percentage

Details

The cost for each webinar is $25 if you are a member of the National Association for Family Child Care and $40 if you are not.

Each webinar lasts an hour and a half. Certificates of attendance are sent to participants after the webinar is over. Check with your licensor to see if the webinars qualify for training credit in your area.

Participants will receive a copy of the webinar power point and handouts. You have the chance to talk directly to Tom during the webinar.

The webinar will be recorded so you can view it later if you can’t attend the live broadcast.

For more information, contact Mandi Schill, mandischill@gmail.com, 801-886-2322 (ext 4618).

Tom Copeland – www.tomcopelandblog.com

Image credit: https://www.flickr.com/photos/notionscapital/

For more information about record keeping, see my book Family Child Care Record Keeping Guide.



Categories: Deductions, Record Keeping & Taxes, Tax Return, Time-Space Percentage