I issue my receipts once a year. I have been a little lacking in my paperwork lately and have quite a bit to get through to get my reciepts organized. Just wondering when it is required to have all reciepts given to parents? Thanks all
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I issue my receipts once a year. I have been a little lacking in my paperwork lately and have quite a bit to get through to get my reciepts organized. Just wondering when it is required to have all reciepts given to parents? Thanks all
In the rest of the business world it is on or before February 28th ~ this is also the date I was told as the deadline when I called CRA when I started out and what my handbooks indicate as the 'final deadline' ... however I always do mine sometime in January just cause some people are eager beaver tax filers ;)
thanks Reggio! thats the only date I could find on cra too just wanted to double check- i am hoping to get through quite a bit this weekend because ive already had one parent inquire. thanks
I did mine over the weekend and handed them out yesterday.
To give out the receipts to parents you just need to know how much they paid for daycare last year. If the prospect of going through that heap of receipts is overwhelming(yes I have a little one too :)) then at least that shouldn't hold you up issuing the parents tax receipts as it doesn't effect their receipt.
Oh for sure my clients fees tally up as the year goes along in the Excel program so I always know how much each client has given me in fees at a click of a button ~ but I do not do MY actual TAXES with my expense receipts and stuff until the last possible moment cause I usually owe and well I am not eager to pay 'ahead' of the game for that :oQuote:
Originally Posted by bright sparks
I usually aim for middle of January but it is at least by the end of the month even though you have till end of Feb to do them. I make them up and put them in sealed envelopes and then keep them here. I tell parents they can either take them or leave them in their bin till they are ready to do taxes but that it will cost them $5 if they need a replacement receipt.
I usually have mine out the first week of February. My DDs birthday is the last week of January, once I am done her party I sit down and start taxes, starting with the parents receipts, income statements and grocery expenses.
I'm hoping to be finished that job this weekend. Then I have to start working on all the rest of the thousands of receipts for expenses that I have been slacking on. I deserve a smack!