FCC Alliance Business Support
Tax Tips for Registered Family Child Care
Don’t Let Tax Time Get You Down! We have resources to help!
2023 Taxes (for filing in the Spring of 2024)!
On March 21, 2024, Child Care Aware of New Jersey held a tax preparation webinar going over basic concepts, business expenses, shared expenses, IRS forms, and worksheets and templates to help FCC providers. If you missed the session, you can watch the recorded video here. The slide presentation is also available in English and Spanish.
Tax Concept One Pagers – Simple Explainers (See Below Documents)
- The Time-Space Percentage Explainer (one pager). The time-space percentage is important because this is the percentage that is applied to shared expenses (i.e., expenses that are partially business related and partially personal) when adding deductible expenses to your tax forms. English & Spanish
- IRS Form 8829 Explainer (one pager). This is the IRS form where you list shared expenses. The time-space percentage is used for the calculation on this form. English & Spanish
- IRS Schedule C Explainer (one pager). This is the IRS form where you list all your expenses that are 100% related to operating your business. English & Spanish
Worksheets & Tools to Make Filing Taxes (and record-keeping) Easier!.
- IRS Schedule C Expense Worksheet (Explained Expense List adjacent to IRS Schedule C Form, March 2024) English & Spanish
- IRS Form 8829 Shared Expense Worksheet (Explained Shared Expenses List adjacent to IRS Form 8829 Form, March 2024) English & Spanish
- Time-Space Worksheet (Excel tool to calculate time-space percentage, March 2024) English & Spanish
- Time Tracker (Use this worksheet to track your working time every day/every week to prepare for the time-space percentage used in IRS Form 8829 — not just the time you spend caring for children but all the other things you do to support your business) English & Spanish
- Monthly Attendance and Payment Log. (Excel, use this template to track child payments & Monthly Meals & Snacks). English & Spanish
- Monthly Business Expense Log (Excel, use this template to track business expenses to support your FCC program) English & Spanish
Health Insurance Resources
The American Rescue Plan made health care coverage more affordable! The Inflation Reduction Act extended health care subsidies through 2025.
- American Rescue Plan Health Insurance One Pager (August 29, 2022)
Key Child Care State Agencies
NJ Shared Resources Online Family Child Care Toolkit
Check out the business resources in the NJ Shared Resources Platform online family child care toolkit!
- Discounts on frequently purchased products
- Financial management and templates
- Record-keeping forms and parent contracts
- Forms and policies
- Creating a profit & loss statement
- And more!
Contact your local Child Care Resource and Referral (CCR&R) agency if you need help gaining access to the NJ Shared Resources Platform. CCR&R staff can also help identify resources in the toolkit to help with your day to day work. Download this cheat sheet of resources contained in the platform.
Marketing Resources
The NJ Shared Resources Platform has a wide array of marketing resources – including a list of 25 no cost (or low cost) ways to market your program!
- Email marketing for Beginners (Video)
- Google Ads for Beginners (Video)
Basic Business Resources
- FCC Financial Management Toolkit (Opportunities Exchange)
- FCC Financial Management Self-Assessment (Opportunities Exchange)
- FCC Budget Template | Provider (Excel Download, Opportunities Exchange)
- Child Care Management System Software (Software to help you run your business).
- Frequently Asked Questions (Opportunities Exchange)
- Child Care Business Tax Resources (Civitas Strategies)
Federal Help for Child Care Businesses
- Small Business Administration (SBA): Support America’s small businesses. The SBA connects entrepreneurs with lenders and funding to help them plan, start and grow their businesses.
- Women Owned Business Center: Find your local Women Owned Business Center for support for women business owners.
- Score: The nation’s largest network of volunteer, expert business mentors. They have helped more than 11 million small business owners since 1964
Access to Capital – Loans
Emergency Planning
Federal and state laws require all regulated child care businesses to have an emergency plan.
There are many templates. Contact your local Child Care Resource & Referral (CCR&R) agency today for help in drafting your plan!
Thriving by Three
The Thriving by Three Infant and Toddler Child Care family child care home grant will help support the development and creation of infant and toddler slots and provide technical assistance to providers for the expansion of child care spaces.
Eligibility Summary
Eligible Providers must:
- Comply with state and federal health and safety requirements for registered family child care providers,
- Comply with the current family child care registration standards for infant and toddler child care, including, but not limited to, child-to-staff ratios and health and safety standards,
- Be in good standing (no enforcement action and/or funding misrepresentation investigation or misuse of funds),
- Use the funds to develop or expand quality child care spaces for infant and toddlers, and
- Participate or apply to participate in the state’s child care quality rating and improvement system, Grow NJ Kids, no later than 12 months after initial grant approval.
Learn more here!
How-To Documents
Submitting an Application Video
Webinar Recording English | en español
Overview PDF English | en español
NJEDA Child Care Facilities Improvement Program
In 2023, NJEDA accepted applications from child care centers for facility improvement. The agency is now offering a similar program to registered family child care homes. See the NJ EDA Phase 2 FCC Facilities Improvement Program web page. Phase 2 is a pilot grant of $5 million to support New Jersey Registered Family Child Care homes (FCCs) with the purchase of furniture, fixtures, and equipment (FFE) that will contribute to Health, Safety and Accessibility and/or High Quality Learning Environments. Grants between $10,000 and $20,000 are available pending approval of an application.
Webinars:
- Program Overview Webinar Presentation – English
- Child Care Phase 2 (English recording)
- Información general: Grabación en español
FAQS:
Other Resources from Tom Copeland
- Tom Copeland’s web site
- 2020 Tax Changes Affecting Family Child Care Providers (February 17, 2021)
- What Are the Tax Consequences of a State Grant? (February 8, 2021)
- How to Find, Choose and Work with a Tax Professional (January 16, 2021)
- How to Apply for the Economic Injury Disaster Loan (EIDL) Program (February 4, 2021)
- Top Three Record Keeping Tips for 2021
- How the New Tax Law Affects Family Child Care Providers
- 2021 Standard Mileage Rate Announced
- The Truth About Parent Receipts
- How Can Sponsors and Providers Rebuild in the Midst of a Pandemic (Child and Adult Care Food Program, CACFP)
Tools You Can Use to Support
Your Registered Family Child Care Home!
Have your heard about our online family child care toolkit? Learning resources, business templates, discounts on frequently purchased products and more!
- Recorded Webinar. Overview of the Online Family Child Care Toolkit (January 23, 2021)
- Slides (Introduction to the webinar)
For more information contact:
Monmouth County
Courtney Noll
cnoll@ccrnj.org
732-918-9901 ext. 132
Camden County
Mary Ferro
mary.ferro@camdencounty.com
856-374-5122
Contacta con nosotras en español
Monmouth County
Veronica Soto
vsoto@ccrnj.org
(732) 918-9901 Ext. 103
Camden County
Fior Fernandez
fior.fernandez@camdencounty.com
(856) 401-6442
COVID-19 Child Care Information – NJ Child Care Agencies
Overview Resources:
Child Care Aware of New Jersey:
Small Business Administration:
- SBA Online Portal for Loan Forgiveness (at or below $150,000)
- Online Portal Help Guide (FAQ slides)
- Lender List – Banks that have opted into the SBA online portal
- SBA Form 3508S. This form is for borrowers of $150,000 or less. It’s a short one page form. (Your lender may use this form or one that is equivalent)
- SBA EIDL Loan Overview (U.S. Small Business Administration, January 2021)
- SBA Targeted EIDL Advance Overview (U.S. Small Business Administration, January 2021)
- FAQs from Tom Copeland’s web site related to SBA relief (e.g., First and Second Draw PPP loans for family child care providers)
Unemployment:
- Unemployment Compensation Update (One Pager, Committee for Economic Development, March 2021)
Internal Revenue Service:
- IRS Employee Retention Tax Credit Overview (Child Care Aware of New Jersey, March 2021)
Professionalize Your Family Child Care Home
- Recorded Webinar with Q&A. How to Effectively Use Contracts & Policies for Family Child Care Homes in the Age of COVID-19 by Tom Copeland, February 22, 2021
- Slide Presentation from the February 22, 2021 Recorded Webinar
Money Management & Retirement Planning
• Recorded Webinar with Q&A. Money Management and Retirement Planning by Tom Copeland, March 1, 2021
• Slide Presentation from the March 1, 2021 Recorded Webinar
• Individual Retirement Account (IRA) Comparison Matrix (One page explainer, March 2, 2021)
Tuesday Tips: Newsletters
Business Tips
2022 NJ Stabilization Grants:
- NJ Child Care Stabilization Grant and Retention Bonus (April 19, 2022) English and Spanish
- NJ Child Care Stabilization Grant (March 1, 2022) English and Spanish
Business Tips:
- Getting Ready to File Your Taxes (January 30, 2024) English and Spanish
- The Child and Adult Care Food Program (CACFP) Federal Reimbursement for Nutritious Meals and Snacks (June 13, 2023) English and Spanish
- Tax Prep Online FCC Toolkit Resources & Tax Webinar Follow-up (March 28, 2023) English and Spanish
- Organizing Your Expense Information to File Your Taxes (February 21, 2023) English and Spanish
- Preparing for Filing Your Taxes (January 17, 2023) English and Spanish
- Marketing Ideas for Family Child Care (June 21, 2022) English and Spanish
- Curriculum and Business Tips (May 17, 2022) English and Spanish
- FCC Online Toolkit (March 29, 2022) English and Spanish
- Creating an Employer Identification Number (March 23, 2021) English and Spanish
- Creating a Business Bank Account (March 30, 2021) English and Spanish
- PNC Bank Flyer
- Santander Business Banking Flyer
- Tax Tips and Filing Deadline Extension to May 17, 2021 (April 6, 2021) English and Spanish
- Registering Your Child Care Program with a “Doing Business As” or DBA name. (April 13, 2021) English and Spanish
- Family Child Care Homes and Zoning (April 20, 2021) English and Spanish
- Recordkeeping and Family Child Care Homes (April 27, 2021) English and Spanish
- Easy Marketing Tips for your FCC Business (May 25, 2021) English and Spanish
- COVID-19 Expense Tracker Template
- The Basics of Using Excel Spreadsheets – Simple Steps for Mastery in Minutes (May 4, 2021) English and Spanish
- Using the MyKidzDay App to Organize Your Records and Communicate with Parents (May 11, 2021) English and Spanish
- American Rescue Plan: Affordable Health Care Coverage through Get Covered New Jersey (English and Spanish)
- Overview Resources for family child care providers (June 15, 2021) English and Spanish
- Mask Use in Family Child Care Homes (July 13, 2021) English and Spanish
- Camden and Monmouth FCC Business Web Page Resource (July 20, 2021) English and Spanish
- MyKidzDay App Helps You Organize Your Business and Communicate with Parents (August 3, 2021) English and Spanish
- The Child and Adult Care Food Program (CACFP) also called “the food program” reimbursement for healthy meals and snacks (August 10, 2021) English and Spanish
- MyKidzDay Reminder – The app that supports your business! (August 31, 2021) English and Spanish
- Business Resources for You! (September 7, 2021) English and Spanish
- Using Contracts for Your Business! (September 14, 2021) English and Spanish
- Tom Copeland Upcoming Business Webinars: Maximize Your Income! (September 21, 2021) English and Spanish
Provider Wellness/Health Care
- FCC Alliance Telemedicine and Teletherapy (November 22, 2022) English and Spanish
- The American Rescue Plan made health care coverage more affordable! The Inflation Reduction Act extended health care subsidies through 2025.
- American Rescue Plan Health Insurance One Pager (August 29, 2022) Check out GetCoveredNJ today!
- Colds, Flu, RSV, and COVID Tips for Providers and Families (December 20, 2022) English and Spanish
Child Care Aware of New Jersey:
- COVID-19: Child Care & Recordkeeping 1 pager (May 1, 2021)
Child Development
Supporting Children in Transitions (September 19, 2023) English and Spanish
Strengthening Children’s Fine and Gross Motor Skills – Resources for FCC providers and Parents
- Ages & Stages Learning Activities
- Fine Motor Skill Building Activities for the Home
- Gross Motor Practice Skills and Activities
- Parent Activity Guide for Birth to 3
- Child Activities to Strengthen Fine and Gross Motor Skills (June 1, 2021) English and Spanish
- Summer Professional Development Trainings for family child care providers (June 8, 2021) English and Spanish
- Summer Fun Activities for Children in Family Child Care Homes (June 22, 2021) English and Spanish
- Summer Fun Learning Activities (July 6, 2021) English and Spanish
- Child Development Activities Following August 11 FCC Alliance Child Development Meeting (August 17, 2021) English and Spanish
- Camden and Monmouth County FCC Alliance Meeting, Early Childhood Development (Recorded Video, August 11, 2021)
- Social and Emotional Formation Initiative (SEFI) Panel Presentation Resources (October 2021) English and Spanish
- Social and Emotional Formation Institute (SEFI)
- SEFI Flyer
- Exploring Feelings Reading List (Books for Young Children provided by Montclair State University)
- 13 Children’s Books for Social and Emotional Learning (Teachstone, 2021)
Computer Trainings!
Holiday Tips & Activities
- Recorded Camden & Monmouth FCC Alliance Meeting, MKD Introduction (July 29, 2021)
- Camden and Monmouth County FCC Alliance Meeting, Early Childhood Development (Recorded Video, August 11, 2021)
- Camden and Monmouth County FCC Alliance Webinar, Tom Copeland – Maximizing Income: Recordkeeping to Support All Possible Tax Deductions(Tom Copeland, October 6, 2021)
- Recorded Video
- Camden and Monmouth County FCC Alliance Webinar, Tom Copeland – Maximizing Income: The Child and Adult Care Food Program and Tracking Meals Not Reimbursed by the Food Program(Tom Copeland, October 13, 2021)
- Recorded Video
- Slide Presentation
- Camden and Monmouth County FCC Alliance Webinar, Tom Copeland – Maximizing Income: Recording All the Hours Providers Work to Maximize Tax Deductions (Tom Copeland, October 20, 2021)
- Recorded Video
- Slide Presentation
- Additional Resources:
- Time-Space Percentage Brief Explainer (1 pager, English & Spanish)
- Tom Copeland article on calculating the time-space percentage
- Excel Template to calculate your time-space percentage
- Tracking All Your Hours Downloadable Excel Template (version 1)
- Tracking All Your Hours Downloadable Template (version 2 from the online FCC toolkit)
Note: 2 versions are presented, use what works for you best – or modify and create your own!