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3 Big Ways Professional Tax Services Benefit Child Care Providers

Wonderschool helps child care businesses track their business revenue. We whole-heartedly advise working with a qualified, child care tax professional to help you prepare and file all this information. Taxes are due on April 18th, 2022. There may still be time to file an extension or work with a consultant for further financial advice.

A tax professional who is knowledgeable about the child care business will cover all the important details, leaving you free to focus on the big picture. There are many tax professionals to choose from but not all have the comprehensive ability to help you file for this year and think about your 5, 10, and 20-year plan.

What can a knowledgeable tax professional do?

  • Categorize Your Finances
  • Show Losses And Gains 
  • Plan Your Desired Future

A tax professional can help you organize your prior revenue, grant funding, expenses, and non-business tax information (i.e., independents, other revenue.) You will then be able to understand what gains and losses have occurred, as well as unexpected changes that occurred this year.

With this data on hand and an expert who understands your business, you will be empowered to develop a course of action for future goals.

“Wonderschool recommended tax services are excellent. Cliff answers all my questions. My business has been growing over the years. It helps to have someone who can organize the financials for my business each year. I think it would take me weeks to do what he does.”

-Erica Ramos, Director Bernal Infant and Child Care. 

More About The Benefits 

Any small business needs to ensure they are claiming the maximum tax returns possible, but with our services, you can do more. You can also ensure a strong and sustainable child care business for the years ahead.

These services include:

  • Tax reporting and preparation
  • Financial advising
  • Retirement planning
  • College planning
  • Insurance planning
  • Education on how to handle debt problems
  • Education on setting and following a budget – personal and business
  • How to safely buy a home/rental property, financing questions, when to refinance, and when not to
  • How to set and achieve financial goals, including how to define your unique financial

Want to make 2022 your most organized financial year? Start planning for program expansion? Or begin saving for retirement? Anything is achievable if you know your finances and have the right support.

Email us today at t[email protected].