Taxation in the United States and Food Program Essay example

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Calendar Year Payment Summary 2013
Sponsor: Tremont-Monterey Day Care Center, Inc
This report is offered to you as a summary of your Food Program income and expenses for this calendar year. The line item listed on this report titled "Total amount of taxable income" is the total amount of income related to the Food Program that is reported for tax purposes.
Additionally, the IRS has developed a standard food deduction for individuals who operate a child care business. This standard deduction is based on the Tier 1 rates in effect at the beginning of the calendar year, but it includes ALL meals you served, not just those meals that were creditable as part of the Food Program. Based on the information submited on your Minute Menu paperwork, the line titled "Total deductible Food Expense" is our estimate of your standard tax deduction for child care food expenses. If you actually fed more meals than you noted on your Minute Menu paperwork, then you may need to adjust this figure before you record it in on your taxes.
If you have any questions about how to handle Food Program payments or child care food expenses on your taxes, please do not contact the Food
Program for that tax information, instead consult your tax preparer for the best advice.

Provider:

Manning,Suqulia (2088)
3219 Eastchester Rd
Bronx, NY 10469
Total of all payments received:
Total non-claim payment adjustments:
Total own child reimbursements:
Total amount of taxable income:

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Reimbursed Breakfasts:
Non-Reimbursed Breakfasts:
Breakfasts for own children:

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204 X $1.27
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Total deductible Breakfasts:
Reimbursed Lunch/Dinners:
Non-Reimbursed Lunch/Dinners:
Lunch/Dinners for own children:
Total deductible Lunch/Dinners:
Reimbursed Snacks:
Non-Reimbursed Snacks:
Snacks for own children:
Total deductible Snacks:
Total deductible Food Expense:

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