The Child Care Directors Chair Podcast

287 Maximize Your Child Care Tax Savings (2025 Update)

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In this conversation, childcare owners are guided through the complexities of tax season by tax professional Nekea Whitson. She shares her journey from being a childcare director to a tax consultant, emphasizing the importance of proper bookkeeping, understanding tax credits, and structuring businesses correctly to maximize tax efficiency. The discussion highlights common mistakes made by childcare owners and offers actionable advice for setting up for success in the new year.

takeaways

  • End of the year is stressful for childcare owners.
  • Proper bookkeeping is essential for tax preparation.
  • Hiring the right tax professional can save money.
  • Understanding tax credits can significantly reduce tax liability.
  • Structuring your business correctly is crucial for tax efficiency.
  • Many childcare owners overlook available tax credits.
  • Organizing financial documents can prevent leaving money on the table.
  • Estimated taxes must be paid to avoid penalties.
  • Childcare owners need to be educated about tax strategies.
  • Collaboration with tax professionals can lead to better financial outcomes.

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