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Make This Tax Season a Breeze

OVERVIEW

Tax season is upon us! And it’s the time of year where we all wish we had been on top of tracking our receipts!

In this weeks blog post we are going over some tips and resources to help you get organized for submitting your dayhome taxes.

Whether you plan to do your own taxes or hire a professional – there are some simple tasks you can complete to help make this tax season a breeze. 

Getting Prepared

Gather Receipts

DIVIDE EXPENSES INTO CATEGORIES

TAX TIP

Embolden PDC has several helpful Tax Spreadsheets that list each of the potential categories you might use when organizing your expenses.

VIP EXCLUSIVE TAX RESOURCES

Check out the Embolden PDC Portal for more details.
Click Here

TOTAL UP YOUR INCOME

determine business use of home calculation

TAX TIP

Embolden PDC has a helpful business use of home calculator inside Tax Spreadsheet #3.

VIP EXCLUSIVE TAX RESOURCES

Check out the Embolden PDC Portal for more details.
Click Here

DECIDE IF YOU'LL TACKLE YOUR TAXES ON YOUR OWN OR HIRE A PROFESSIONAL

TRUSTED ACCOUNTANT OF EMBOLDEN PDC:

TAX TIP

Embolden PDC has a list of trusted accountants available inside the portal.

AVAILABLE TO ALL MEMBERS

Check out the Embolden PDC Portal for more details.
Click Here

For next year

SET ASIDE FUNDS TO HELP MAKE TAX PAYMENTS MORE MANAGEABLE

SORT EACH MONTH

Resources

Check out these helpful resources below for a stress free tax season. Income tax returns for the self employed are due June 15.

LIVE Tax Training Session - February 1 @ 7PM

There are only a couple of tickets left for our LIVE Tax Training Session coming up next week. This highly anticipated session is a must do for any dayhome provider. CPA Kathy Jo Matthews will go over all of the top questions dayhome providers have about filing their income taxes.

Canada Revenue Agency (CRA)

Daycare in your home. This is were you can find information on how to report your income, claim expenses and issue receipts.

Tax Training 2021

Join CPA Kathy Jo Matthews for an informative hour all about dayhome taxes.
We’ll discuss tracking revenue & expenses, how to stay organized, when to file, and MORE.

Spreadsheets

Make adding up your expenses a breeze with two excel spreadsheets to try.

Tax Cheatsheet (FREE)

Not sure which expenses you can claim or how the calculation works for figuring what portion of your utilities can be claimed? Check out this tax cheatsheet!

Get started today,
Mirriah

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