The days are starting to feel longer and brighter, the air remains crispy and begins to feel sneezy. It is our favorite time of the year… or not quite, but maybe for some of us it is. Here comes tax season! That magical time when we have no option but to get organized and pay our dues. It may not sound too fun, but once it is done, relief is real. Do not let this season overwhelm you. Here are some helpful tips and pieces of information related to filing your childcare business taxes:
Tax Preparers versus CPAs
Not all tax professionals may be able to offer the same services. If you are looking for someone to help you file your taxes and you are not interested in receiving support if audited by the IRS, a tax preparer will be able to do a fantastic job. If on the other hand, you prefer to work with someone who will be able to support your business if audited, a CPA is your best option. Certified Public Accountants or CPAs, are licensed professionals with accounting expertise. Although not all of them are specialized in tax preparation, those who are, will offer you the most comprehensive service when it comes to filing your business and personal taxes.
What to bring for your tax preparer when working on filing your taxes?
- Your identification documents such as EIN, social security number and local business registration numbers.
- Receipts, bills and invoices for any costs related to your house and your business including any mileage logs if applicable.
- Business income amounts from private payments, subsidies, and anything related to your childcare.
- Documents and forms mailed and emailed to you regarding taxes. For example, 1099s, 1098s, 1042s, etc.
- Payroll documents and information: how much and how often you have paid yourself and your staff.
- Financial statements such as profit and loss, bank/credit cards.
- Depreciation documents/schedule for your assets: property, equipment, vehicles related to your business.
- Amounts previously paid to the IRS (any quarterly payments) and AGI (adjusted gross income) numbers from your last tax returns.
When to file your taxes?
- In 2026, the deadline to pay federal taxes for an individual, sole proprietor, C Corporation, or a single-member LLC is April 15.
- If you have an S Corporation, a partnership, or a multi-member LLC, you should file taxes by March 15.
- Extensions for 6 months can be filed as well.
- In Oregon, state taxes usually follow the same timeline as federal taxes.
Quarterly payments
Lastly, do not forget your quarterly payments! The IRS requires businesses that owe more than $500 in federal taxes to send quarterly payments. In 2026, these will be due on April 15, June 15, September 15 and January 15 (2027). Sending these payments will help you avoid a penalty fee during the next tax season.