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01/23/2011

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Leslie

I sat down and figured out my avg cost per meal, using 4-5 different meal options for snacks, breakfast and lunch/dinner. It totaled out to be a little higher than the standard amount. How do you record this in Minute Menu? I know you can record the receipts, but if you're just using these average costs per meal for deductions, where does it go? Also, do I claim the difference between my average cost and what the food program reimbursed me? Thanks again!

tom

Yes, record your food receipts into Minute Menu. Then you must do your own calculation to come up with your food deduction. Enter you food expenses on Schedule C under Other Expenses on the back of the form. Don't claim the difference between your average cost and the food program reimbursement. Instead, report your food program reimbursement as income and report all your food expenses as a deduction.

Virginia Albarran

From my understanding we cannot claim our children for the standard food deduction. Does this include nephew that lived with me temporarily?

tom

If you are being paid to care for your nephew you can count the meals he eats during the time other daycare children are present. If you are not paid, then don't count his meals.

Jill Rothwein

Hi Tom, Can a provider who is using a corporate business entity still use the standard meal allowance to calculate food costs, or is there a better way?

tom

It doesn't matter how your business is structured (self employed, corporation, partnerships) to be able to use the standard meal allowance rate.

Kylee

Do you claim Standard Meal Allowance rate under schedule c other expenses or is this only for actual food expenses?

Tom copeland

Claim food expenses on Schedule C under Other Expenses with either method.

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