The IRS Tax Court and Child Care Providers

Just finished reading about Time-Space Percentage client case of Tom Copeland’s. It is a great example of why recordkeeping is so important for child care providers.  The child care provider was audited – and determined – to owe $37,000.  After an unsuccessful appeal process, the provider contacted Tom Copeland.  Because the provider kept meticulous records, receipts, and other important documents, the case was revisited and settled for a fraction of the original determination.  Instead of $37,000 – the client ended up owing $4,466.  Get the full story here.