IRS Approved CPE Courses
2 hours
Certificate CTEC IRS NASBA

Taxation of Daycare Providers

Course Description

It is estimated that over 130,000 daycare businesses employ almost one million workers in the U.S. Most of these businesses have five or fewer employees, and many are sole proprietorships run out of the owner's home. Many daycare providers are unaware of, or simply misapply, the somewhat confusing tax rules to which they are subject. This course guides the practitioner through the tax complexities, focusing on the proper determination of deductions, so that you may be better positioned to identify the issues and help your client minimize tax burden and the chance of noncompliance.

Learning Objectives

  • Identify different types of daycare providers
  • Identify the standards by which an expense is classified as a business deduction
  • Understand which types of property qualify for depreciation deductions, as well as rules for determining basis
  • Determine sources of business expenses such as business-related travel, payments for food and toys, start-up costs, and business use of home
  • Identify when a daycare provider can consider bad debt as an expense
  • Understand rules for paying wages and compensation to all levels of employees, including family members and independent contractors, as well as classification of payments made to the business owner

Duration: 100 minutes
Who Should Attend: All tax practitioners advising individual and business clients
Course Level: Basic
Prerequisite: None
Advance Preparation: None
Delivery Method: Self Study - Internet Based
NASBA: 116347
IRS CE: UBWMF-T-00215-21-S
CTEC: 6209-CE-0054
Expiration: In accordance with NASBA standards, access to this course will terminate one year from the date of purchase. Incomplete courses will no longer be accessible beyond the one year deadline.

Last Modified: 04/27/2021