Recording all your business transactions weekly is also a good habit. Furthermore, add the monthly income and expenses to arrive to your annual income and expenses.

Your expenses in the venture of your daycare business can be deducted from your income tax.

Valid direct expenses get deducted totally from your income. The expense which is usual in your business is ordinary.

Advertisement fees Bookkeeping fees Books for the daycare Car expenses Daycare Furniture Diapers and Wipes Education Entertainment for the children Equipment purchase Equipment rental fees Food for the children Insurance Legal Fees Magazines for the daycare Maintenance Office supplies Other taxes Payroll Printing charges Seminars Telephone bills for the business line Toys for the daycare Truck Expenses

Record Keeping in Your Daycare Business

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