It’s the time of year where tax preparations begin. The following reports are available in My Food Program and may be helpful for tax preparation. These reports are used most often by family child care homes. Click each report image below to visit our Help Center article for more details.
See more: Reports for Parents | Income Reports | Expense Reports
REPORTS FOR PARENTS
W-10 Report
If your providers or centers used our invoicing feature to track invoices and payments, then the W-10 report will generate the yearly summary of amounts paid on a W-10, pre-filled with the site’s name and contact information and provide a total amount paid for the calendar year.
INCOME REPORTS
From Providing Care:
Revenue Summary Report
This report shows each household with their total amount paid for given year so that sites can compute their annual income from child care services.
From the CACFP:
Reimbursements by Calendar Year
The IRS considers income from the CACFP as taxable. This report will tell you how much money you have received in CACFP reimbursements over the calendar year so that you can file accurate taxes.
Note: the Standard Meal Allowance Report will not match the Payments by Calendar Year Report since the CACFP operates on a reimbursement basis. Learn more in our Help Center article.
EXPENSE REPORTS
From Business Operations:
Expense Summary Report
This report is useful for any sites that are tracking expenses in My Food Program. For family child care providers, the expenses are separated into categories that match IRS Schedule C for Form 1040 and IRS Forms 8829 and Form 4562.
From Providing Food:
Standard Meal Allowance
Family child care providers can deduct all of the costs of providing food to the children in their care on their taxes on IRS Form 1040 Schedule C in Part V. This report uses the standard meal allowance method, which adds up all the meals and snacks that you served to the children in your care, takes away any meals served to your own children, and multiplies the totals by the Tier I rate.
