Hey ladies just curious if you claim deposits for the last 2 weeks of care in the year received or do you accrue it to the year it's used?
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Hey ladies just curious if you claim deposits for the last 2 weeks of care in the year received or do you accrue it to the year it's used?
I claim mine the year it is received and include it with their annual receipt. I figure the parents will probably claim it that year too because they have put it out of the pocket/bank already.
I accrue it to year it is used - it sits in their account as a credit and in my savings untouched until I need the income when they leave and if they give me enough notice I can save for them leaving I leave it there for rainy day ;)
Cheers that is what I will probobly need to do!
Quote:
Originally Posted by Inspired by Reggio
I write the receipt when I receive the money and give it to the parents with a notation at the bottom whether it is refundable or not depending on the circumstances. Then I claim the income and give them the tax deduction for the year it is received that way. It may technically be applied to the last week of care a few years later, but this is simpler for me.