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This tax tidbit is specifically for Day Care providers or Day Care small business owners.
The meals and entertainment you provide to the children (or adults in day care) are deductible in full. Your meals as a business owner during the course of the day is not deductible, nor is the food consumed by your children or other family members. The standard meals and snack rates are shown below but you can deduct actual meals and snack costs but not both in the tax year.
The standard meal and snack rates for 2011 and 2012 are:
2011 United States
- Breakfast $1.19 per day per child ( Alaska $1.89, Hawaii $1.38)
- Lunch $2.22per day per child (Alaska $3.60, Hawaii $2.60)
- Dinner $2.22 per day per child (Alaska $3.60, Hawaii $2.60)
- Snacks $0.66 each child/up to 3 snacks
- Snacks (Alaska $1.07, Hawaii $0.77)
2012 United States
- Breakfast $1.24 per day per child (Alaska $1.97, Hawaii $1.44)
- Lunch $2.32 per day per child (Alaska $3.76, Hawaii $2.71)
- Dinner $2.32 per day per child (Alaska $3.76, Hawaii $2.71)
- Snacks $0.69 each child/up to 3 snacks
- Snacks (Alaska $1.12, Hawaii $0.81)
There is plenty more on this subject that I could share, but this is a tidbit. You will just have to keep reading or call me or another Tax Professional for more information.
Filed under: Business, Deductions, Elderly, Family, Recordkeeping Tagged: | Childcare, Day Care, day care providers, family, small business owners, Tax
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A majority of Tax Professionals have some type of incentive that will help their clients feel safe when filing a tax return, it is up to you to ask questions when considering a tax professional. Most Tax Professionals will be with you during the whole process of an audit, sometimes all is needed is a more detailed form faxed to the IRS that your Tax Professional will take care of. Just in case you were asking a general question!