Record Keeping Quiz

3420094632_c14fb55420_zHere’s a short quiz to fresh up your record keeping skills:

1) If a day care child naps in one of your own child’s bedroom for thirty minutes a day, four times a week can you count this room as being regularly used for your business when calculating your Time – Space Percentage?

A. Yes

B. No, because a room must be used for at least one hour a day for it to be considered regularly used

C. No, because it is your own child’s bedroom which is considered personal use.

Answer #1

2) A provider should not join the Food Program is she is spending more money on food than she receives in reimbursements from the Food Program.

A. True

B. False

Answer #2

3) One day a provider goes to the grocery store where she buys business and personal food before driving home. Can she deduct this trip as a business trip?

A. Yes

B. Yes, if she bought more business food than personal food

C. No, because to claim a business trip to a grocery store you can not buy any personal food

D. No, because trips to grocery stores are always considered personal by the IRS

Answer #3

This quiz was first posted at firstchildrensfinance.org.

Tom Copeland – www.tomcopelandblog.com

Image credit: https://www.flickr.com/photos/27970119@N02/

6a0133f3fc5805970b01bb08151dd5970d-320wiFor more information about record keeping, see my book Family Child Care Record Keeping Guide.



Categories: Car Expenses, Food Program and Food Expenses, Record Keeping & Taxes, Time-Space Percentage

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