The Family Child Care Inventory-Keeper is an easy-to-use log that enables you to track the furniture, appliances, and other items you use in your home-based family child care (daycare) business. Once you identify these items, you can reduce your taxes by depreciating them as business expenses. By filling out the Inventory-Keeper, you will have all the information needed to claim depreciation deductions for such items as a washer, dryer, computer, television, DVD player, refrigerator, stove, freezer, bed, sofa, lawn mower, microwave, swing set, and so on. You can use the Inventory-Keeper to claim depreciation deductions for furniture and appliances that you purchased years before your business began, as well as for items you bought after your business began. The Inventory-Keeper can help you identify many deductions that you may have otherwise missed. It can also be used for insurance purposes if any of your items are ever stolen or destroyed. There is even a section where you can list items that are strictly personal. The Inventory-Keeper can track it all.
Tom Copeland is the nation’s leading expert on the business of family child care. A renowned tax and child care business specialist and licensed attorney, Tom received his BA from Macalester College, and JD from William Mitchell College of Law. He is the author and coauthor of numerous books including Family Child Care Contracts & Policies, Family Child Care Record-Keeping Guide, Managing Legal Risks in Early Childhood Programs, Family Child Care Marketing Guide, Family Child Care Money Management and Retirement Guide, Family Child Care Business Planning Guide, Family Child Care Legal & Insurance Guide, annual editions of Family Child Care Tax Workbook and Organizer, and Family Child Care Tax Companion, and Family Child Care Inventory Keeper.
Bill Porter became a tax professional in 2008 when he started his company Pride Tax Preparation in the suburbs of Minneapolis, Minnesota. After passing the "Special Enrollment Examination" with the IRS to become an Enrolled Agent, he soon realized that most tax returns of child care providers were either incorrect or missing important deductions, so he decided to specialize his business towards helping child care providers. When preparing tax returns, he focuses on ensuring everything is correct and using all allowable deductions so his clients can have the best outcome.