RECORDS REQUIRED FROM A PRIVATE HOME DAY CARE DURING AN AUDIT

RECORDS REQUIRED FROM A PRIVATE HOME Back
DAY CARE DURING AN AUDIT
STATEMENT OF INCOME AND EXPENSES

GROSS INCOME with receipts

INCOME FROM CHILD CARE FOR REGION CHILDREN
INCOME FROM CHILD CARE FOR PRIVATE CHILDREN

Important: Keep records of how many children you had each day, full time and part time. Why? If not CRA allows only six (6) dollars per child per day full time and three (3) dollars per child per day part time. You must also state at what time the children arrive in the morning and at what time they leave at night. Do you have children over the weekend? Are some areas of the house permanently set up as a day-care space or they are available to the family once the children leave. Keep a record of which rooms are used. Do you have a room used only as an office?

TOTAL INCOME:

EXPENSES (Note: these are the exact records that CRA want to see in an audit, if you do not have them, they will disallow the expense)

ASSISTANT
ADVERTISING (paper, radio, web site)
EXTRA HOUSEHOLD INSURANCE
REPAIRS TO HOME AND BREAKAGES
HOME SUPPLIES (E.G.: FIRST AID SUPPLIES, CLEANING SUPPLIES, DISHES, TOWELS, SHEETS)
GROCERIES: keep all receipts (see above).
CAR (Gasoline, repairs, insurance, parking, tolls)
CAR MILEAGE (You must keep a daily record of mileage, where you went and why. Which mileage is for business and which mileage is for pleasure. Keep totals for the year in a logbook. CRA wants to see the logbook or they will disallow the car expenses.
PLAY SUPPLIES (E.G.: TOYS, BOOKS, and CREATIVE SUPPLIES)
POSTAGE & STATIONERY, BUSINESS CARDS
ACCOUNTANT FEES (BURLINGTON TAX SERVICE)
HOUSEHOLD APPLIANCES & FURNISHINGS OVER $ 500.
EXPENSES OCCURRED IN OUTINGS
TELEPHONE, only a business line or a cell phone are allowed as deductions at 100%. Use of the house phone for business is not allowed as an expense. Only long distance charges on the house phone.
OTHER ITEMIZED EXPENSES, Internet hook up, courses, CPR.

HEAT
ELECTRICITY
WATER
UNION ENERGY
HOUSE INSURANCE
MORTGAGE INTEREST (upon your request, the bank will provide a written statement in January)
PROPERTY TAXES OR RENT
CABLE T.V.

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