NYC Daycare Accounting made easy.
Schools & Daycares
There are certain jobs that all for expertise and accountants are one of them. Just as you would run a family day care business successfully only if you have expertise in the field, you would need an accountant to ensure that your finances are in order. It is common for small to midsize business owners and startup entrepreneurs to think that not hiring an accountant would save some money and that anyone can attend to the math necessary to maintain the financial records of the enterprise. Here are some of the reasons why you might want to reconsider.
REASONS WHY
- It just makes good business sense. You want your business to have optimal cash flow and retirement positions. You want to ensure your invoice and receipts and monitored in real-time. You need help to forecast your cash flows to ensure that money is readily available for day-to-day living, retirement or future investment and provide real-time reports to track your progress.
- Annually isn’t enough. How can you make informed business decisions in November based on your financials from the start of the year? It’s understandably hard to find the time to manage proper up-to-date financials while doing everything else but you need the data more frequently.
- You can’t run a business when you keep your receipts in a shoebox. We know it’s tempting, many of us started out that way, but in this day and age you need a more systematic way of handling your transactions.
Children can be a handful and your attention is needed elsewhere. It’s impossible to keep an eye on every child in your care at the best of times, but when it’s extremely busy, you might feel like you need all the help you can get. You’ll want to ensure that you find daycare insurance that covers your business correctly. This is vital, as children can sometimes act quite recklessly and this can result in an injury. Ensure you’re covered for all injuries with your insurance provider. It’s difficult to ensure that all of the children are safe whilst you’re trying to deal with the financial side of the business, that’s why you should consider filling out the contact form below and we’ll chat with you about liberating you from your financial duties.
You also want to make sure that you have a Daycare Tax Preparer helping you with your Taxes. Rachel Michaelov EA spoke at the Child Care Food Programs several times and has helped hundreds of Child Care Providers with the following:
- Bookkeeping Records: Making sure your income and expenses are correct and deducting what is allowed according to IRS regulations.
- Daycares have specified rules that apply only to Daycares such as:
- Deducting the Standard Meal allowance rates for Daycares
- Deducting the hours that Daycares worked in their Daycare
- Deducting specific expenses that only applies to Daycares.
IF YOU ARE INTERESTED FOR A FREE CONSULTATION, PLEASE CALL THE OFFICE AND WE CAN SCHEDULE A FREE CONSULTATION WITH OUR ENROLLED AGENTS
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