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The Tax Consequences of Renting

When you rent something that is used in your family child care business, you can deduct it using the rules described below: House/Apartment – Deduct the Time-Space % of your monthly rent. You won’t be able to claim any mortgage… Read More ›

2015 Standard Mileage Rate Announced

The IRS has announced that the 2015 standard mileage rate will be $.57.5 per mile for business trips. The 2014 standard mileage rate is $.56 for such trips. Family child care providers using this standard mileage method may also deduct the following… Read More ›

Creating a Transportation Policy

Here is a transcript for my podcast, “Creating a Transportation Policy.” Welcome! You are listening to Tom Copeland’s Taking Care of Business. I’m Tom Copeland, and I’ve been a trainer, author and advocate for the business of child care for… Read More ›

Claiming Car Expenses

Here’s a transcript of my podcast, “Claiming Car Expenses.” Welcome! You’re listening to Tom Copeland’s Taking Care of Business. I’m Tom Copeland, and I’ve been a trainer, author and advocate for the business of child care for over 30 years…. Read More ›

2013 Tax Quiz

Test your tax knowledge by taking this short quiz. 1) If a provider drives two cars for business trips in 2013, can she use the standard mileage rate for one car and the actual expenses method for the other car?… Read More ›