Keeping Track of your Expenses

Keeping Track of your Expenses

How much your day care business makes as profit is what is left after all of your expenses are paid. Keeping track of your expenses is important to both control your costs and to calculate your taxes. You must know what your expenses are to calculate how much your fees will need to be.

A partial list of expenses for your day care business:

Food
Toys/games/Arts and Crafts
Transportation
First Aid Supplies
Laundry and Cleaning
Office Supplies
Bank Charges/Business Account
Legal and Bookkeeping assistance
Insurance
Advertising
Personal salary
Dues/Fees/subscriptions
Training and education
Furniture

Some expenses may be shared between your family and and your day care business:

Mortgage/Rent- If you rent, are you allowed to run a business in your home?
Utilities-phone, water, sewer, garbage, electricity, gas, oil,
Property taxes
Maintenance, repairs
House insurance/Liability insurance
Household supplies
Taxes

REMEMBER to keep all of your receipts and file them by type of expense or date so you can find them easily. You must have a receipt or cancelled check before you can deduct the expense on your taxes!

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Northwest Nutrition Service, PO Box 68365, Milwaukie, Oregon 97268