Tax question

[Ashleigh]

Hi,
I'm fairly new at daycare, just having it for 5 before and after school kiddies, these children come to me all day for PA days and holidays. What can I claim for, bearing in mind most of the time I'm only feeding the children snacks and drinks? I'm making myself spin thinking about preparing my taxes. Btw I've kept every possible receipt just in case.
Thanks in advance.

[5 Little Monkeys]

You will have to talk your accountant but I think you will need to follow the formula of (days open/days of the week) x (hours open/hours in the day) x (rooms in your house used for dc/ total rooms in your house)

I'm not entirely sure how you would factor in the PA days and holidays though.

[Artsand crafts]

You can also claim a % use of your house (mortgage interest, rent, gas, electricity, etc). If you have acquired toys, materials, crafts supplies etc for your daycare you can also claim that.

I use Turbotax to do my own taxes and it is self explanatory. They also offer very good telephone support there. At the beginning I used another software (that I don't even remember the name now) but I like this much better.

A good accountant with experience in home daycare would be a good option, too.

[playfelt]

You can claim the same as someone that does full days but use hours instead of days. I have to do that for my daycare because I have a separate business with my felt so I spend so many hours a week doing daycare job and so many hours a week doing felt job. So in your case you have your daily hours plus any day you did the full day add those extra hours to get your total.

[Ashleigh]

So I don't have to be working ft all the time to claim expenses? I'm in Ontario!

[Artsand crafts]

So I don't have to be working ft all the time to claim expenses? I'm in Ontario!

No, you don't. For use of house you can take into account the hours you use the space for daycare purposes. If your daycare spaces are dedicated you can claim all the space 24hrs. You can claim other daycare related expenses, too.