Keep your daycare organized and compliant year-round with 1-800Accountant’s expert accounting, bookkeeping, and payroll services.
Revenue and operating expenses are tracked by your designated daycare bookkeeper, with results shared through easy-to-understand reporting.
Your accountant or tax team identifies every tax deduction, including for supplies and advertising, to minimize your annual tax liability.
Your accountant prepares and files your federal and state tax returns, ensuring compliance and maximum tax savings.
When your tax and bookkeeping obligations distract from child care, consider affordable, tax-deductible support from the leader in virtual accounting. Our professionals navigate the nuances of daycare tax management in your region to deliver optimal results. This way, you save time, maintain compliance, and keep more of your child care revenue.
1-800Accountant has serviced over 100,000 businesses in the last decade. We'll keep your books in order and maximize your tax savings. Get the suite of tax services your business needs at a price that works for you. *Billed annually
Best for businesses that need more advanced features, including tax filing and planning, to maximize their tax savings.
1-800Accountant has serviced over 100,000 businesses in the last decade. We'll keep your books in order and maximize your tax savings. Get the suite of tax services your business needs at a price that works for you. *Billed annually
"I have been with 1-800Accountant for 10+ years, and my payroll experience with Fatima P. has been the best so far. Her professional and compassionate demeanor is unparalleled, and her follow-through is exceptional. I appreciate her help and dedication to my payroll account so much."
Deductions reduce your daycare's tax liability by lowering your total taxable income. Numerous deductions are available and typically qualify if they are ordinary and necessary, including the home office deduction and deductions for equipment, supplies, and meals. If you're having trouble determining every eligible deduction, consult a qualified tax professional specializing in daycare businesses.
Daycare bookkeeping ensures that all financial data, including debits and credits, is properly recorded in the general ledger. Maintaining the ledger is part of the bookkeeping process. It is detail-heavy work, with its thorough information providing the best financial data interpretation, decision-making, and forecasting tools to help streamline your daycare operations. Unlike do-it-yourself bookkeeping software that still demands your time and attention, 1-800Accountant offers daycare owners a full-service bookkeeping solution for an affordable, tax-deductible fee.
Our affordable, full-service bookkeeping solution is managed by a dedicated bookkeeper, who generates easy-to-understand reporting to support critical business decisions. Let us handle your everyday bookkeeping tasks so you can focus on what you do best – running your daycare business. In addition to bookkeeping, we support your business with a suite of financial services, including payroll and quarterly estimated tax prep and filing.
If you are self-employed and devote a portion of your home used exclusively and regularly for your daycare business, you can take the home office deduction. There are two ways to calculate this deduction: the regular method or the simplified method. Business owners who handle their own financial work will likely embrace the simplified method, which avoids the more complex calculations required by the regular method. The simplified home office deduction is $5 per square foot of your home office/daycare space, but is limited to 300 square feet or $1,500.
To ensure compliance and to understand current cash flow, you should track all payments to your daycare in your bookkeeping system, regardless of payment type. Whether a parent submitted payment by check, credit card, third-party payment platform such as PayPal, or cash, it is your responsibility to track those payments and pay applicable taxes.
If your daycare center has hired W-2 employees, you will have to withhold taxes on their behalf. At the same time, your business must contribute to certain taxes, including Social Security, Medicare, and state and federal unemployment taxes.
Our affordable, full-service payroll solution, powered by experts, will run payroll for you each period and handle payroll tax submissions. Spend minutes on payroll each month instead of hours with our service, enabling your daycare employees to be paid in just a few clicks. If you need help, get guidance on creating efficient procedures for payroll processing, tax payments, and reporting. As with all 1-800Accountant services, our payroll pricing is tax-deductible.
1-800Accountant favors our proprietary bookkeeping platform, ClientBooks. We believe it’s the best daycare accounting software to meet your business's needs. Our platform is compatible with leading bookkeeping software, including QuickBooks Online, FreshBooks, and Wave. Our bookkeepers are fluent in these platforms, ensuring seamless integration and financial data management.
You can ensure your daycare remains tax-compliant by identifying and understanding all applicable tax laws, submitting accurate, complete materials and tax payments by each deadline, and retaining pertinent records and documentation. Tax laws and regulations often change, so staying on top of these shifts is important to ensure the accuracy of each tax submission.
Your daycare doesn't require a separate business bank account to operate, but it can help streamline operations. Separating your personal and business bank accounts promotes efficiency and time savings while eliminating extra work you would need to do to isolate your business income and materials at tax time.
Whether you need bookkeeping support, tax advisory, or any of our professional accounting services, we offer affordable, tax-deductible solutions to help ensure your daycare business remains compliant. Getting started is easy and free. Schedule a quick 30-minute consultation to learn how our bookkeeping service can help your daycare business grow.
