Do you have an accountant already? If so, give them a call and they can explain it in detail. If not, call around and ask if they're experienced in hdc's. Until you've done it a few times, I'd suggest an accountant for sure but I do know of some that do their own taxes as it's not too difficult (so they say...math isn't my strongest so I just prefer to pay someone else right now lol)
I might miss some things but you can claim anything that is daycare related....field trips, toys, supplies etc
You can claim a percentage of household bills since your business is your home. Cable, internet, cell, hydro, land taxes etc
You can claim some vehicle expenses too. Any maintenance, gas, Km's etc
The key is to have an organized system in place and keep track of EVERYTHING....receipts, receipts, receipts!!
As for meals...it will depend on how you have your daycare set up. If you have a dedicated daycare space, for example I use exactly half my house, you can claim 50%. If you use your whole house you have to follow the formula....(hours open / hours in a day) x (days of week open/ days in a week) x (rooms used / total rooms in house). I think it usually works out to be between 18-25% for most?? So that percentage is what you can claim for your grocery bills (and utilities and such) your accountant can help you with that though!
There are a few different ways to claim things (meals being the biggest one in difference) so you just need to find the way that works for you! Good luck
