CHILD CARE STABILIZATION GRANT DATA NCDHHS Division of Child Development and Early Education has created two data dashboards to provide Child Care Stabilization Grants summary data. Can painting the house be deducted as a repair? Child care providers that receive a grant have a reporting obligation on Form 1099-G if the amount is above $600. Q: If I have been in business for 30 years and sell my home ten years after I close my business, do I still need to pay tax on the home depreciation I claimed while in business? Even if I didnt get Form 1099? Child Care Stabilization Grants The American Rescue Plan Act of 2021 (ARP Act) (Pub. Q: How can I build up my Social Security benefits before I retire when my profit has not been very high? A: No. Clearly a couch meets that definition. The purpose of the guidance is to help states quickly distribute the stabilizations funds to protect and support the existing child . A: Count the entire room as regularly used as a daycare storage room. RuH )rPG_hDR,\{@f7hfx#noL5'4+Dc"HmZtz)FNF!`\B,edxDk"~K]1XCMGb:BVLMMv/>>`sZ+`\GvLPE7TRi4}3U15rUUjx5;]
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/]fT\PIEUrc! Q: Can I claim Social Security on my ex-husband? The answer is yes, these funds are taxable. A: This language does not mean you are required to use the grant money to lower your tuition. If you dont spend it all you will have to return the unspent money. And while many childcare providers have opened back up, its been anything but easy. Please call us at (315) 446-1220. Example 3: Provider uses some of the grant to pay herself and some for business expenses. A: I dont know. Q: If I use the grant for my IRA, can I deduct 100% of this on my taxes? But childcare providers have been really struggling to stay afloat, and many have resorted to taking on personal debt to get by or temporarily closing altogether. Can I deduct this? It may be the same or may not. What does that do to my time-space%? Youll have to contact the state agency that administers this grant. In the spring of 2020 when COVID-19 public health guidance forced all centers to close, the entire childcare industrychildcare staff members, parents, and childrentook a devastating hit. Law 117-2), signed on March 11, 2021, includes $23.97 billion for child care stabilization grants to be allocated to states, territories, and Tribes based on the current Child Care and Development Block Grant (CCDBG) formula. Discounts, scholarships and refunds are not tax deductible. Child Care and Development Fund (CCDF) Home Visiting; . This webinar, presented by child care business expert, Tom Copeland, will cover all the new tax changes affecting family child care providers for 2021. The Stabilization Payment Program Round 2 is a nine-month payment program that runs August 2022 through April 2023. What dates matter for the child care stabilization grant? T he new mont hl y grant amount and pol i cy i s i n process and under revi ew. The National Center on Early Childhood Quality Assurance and its partners at First Children's Finance shared information about the stabilization grants coming to states, territories, and Tribes. You can use it for free during a 30 day trial period. Q: We store a lot of our dcor and child care stuff in our attic. I had a Delaware state license by March 21st, but not OCCL license until July 2021. Like if something happens and you have close or choose to close. You will report this as income and pay Social Security/Medicare taxes as well as federal and state income taxes on this income. Provider C receives a $3,500 grant and uses the money to pay for equipment that is used for both her business and her family (e.g., computer, television, furniture). Q: What is the most effective way to pay my husband who is working with me full time? Claim this as a house repair on Form 8829. Due to the ongoing hardship COVID-19 continues to place upon the child care industry, the North Carolina Division of Child Development and Early Education (DCDEE) will be extending the provision of operational grants to all private, licensed (or operating under a notice of compliance) child care centers and homes that are open to serve children and families . For most providers, this would be about 30-40% in taxes. Using Indiana's federal COVID-19 relief funding, the Office of Early Childhood and Out-of-School Learning (OECOSL) launched the Build, Learn, Grow Stabilization grant program to provide critical funding to early childhood and school-age providers, support their program's operating expenses and help them rebuild their programs for the future. Child Care Stabilization Grant Questions and Answers. How long do I have to stay in business if I receive stabilization grant funding? Does that mean I cannot offer a monthly or quarterly bonus? b+hxG%YM8bjW8PePQj@Cx9]3Nl6jSx $
V}$%*Qfky.zL@)^f@H{rVKJ4@(TKjZKBa0JjDRP+fT9efu'yur B9f9xk!>m7"`TPhghw /'toK|yk.I/pI:2oK[zt#'.0+mlbxGSC! For all of the above answers that were No, you can still pay yourself and then use the money for these purposes. Q: I have two workers and pay them in cash and hope to give them IRS Form 1099. On October 19, 2021, the Texas Workforce Commission ( TWC) approved distribution of $2.45 billion in American Rescue Plan Act funds for direct relief to child care programs. Investing in Iowa's Child Care (IICC) Funding Program This is clearly the case if you were receiving the lower Tier II reimbursement rate before July. A: If you dont spend all of the grant money on items used 100% for your business, it will increase your business profit. A: EIDL is not the Stabilization grant. Well answer: One of the most common questions about this federal relief program is "how much is the grant?" The purpose of STABLE is to respond to the urgent need to stabilize the child care sector in Georgia. Are the grant funds taxable? Q: If I store all my childrens books on shelves in my sons room (he is too old for them), do I count the square footage that the shelves take up, or do I count the entire room in my time-space% calculation? Q: How do I find out where to apply for this grant? Q: You said that almost everything in your home is a deduction (welcome mat, chairs, flowers in your front yard), can you clarify if these are 100% deductible or time-space%? The Child Care Stabilization Grant is income to your business and is taxable by the state and federal government. Is this a home improvement or a repair? In South Carolina, these stabilizations grants are called "SC Building Blocks". For further guidance on the tax implications of the Child Care Stabilization Grant, please contact your accountant or financial advisor. There is not law that requires you to stay in business. If they say you cant use it for this purpose, you can pay yourself and then use the money to rewire. Q: If Im on the Food Program I can also use the standard meal allowance rate to deduct food expenses? r}#llQU]giI@ EvO8hwdm49IOr0&5C{A+C uL0PL CivWqU,E,cunk~q.c8XJ89pXS}slO++1*wZQI Paying for weekly house cleaner? Should we spend everything that we receive with the grant? YGF:JKSj"tZO+rR&e ]ii D I You want to know his address so you can send him a Form 1099 at the end of the year. A: You cant use grant money to pay someone who is not treated as your employee. Did this change? You can deduct all of the reimbursed meals and snacks as well as un-reimbursed meals and snacks. You dont have to if you dont want to. Q: Does it matter how much income I made this year to use the Stabilization grant to pay myself? Ask your tax preparer to advise you. Q: Is it better to pay myself with this grant or spend it on items for my business? Q: Does the federal guidance for this grant require providers to gift any of it to parents? Rates are reflective of the different costs associated with each program size. The tax implications of the grants depend on several factors, namely, how the provider uses the funds, the providers household income, and possibly the state in which they live. Q: The stucco on our building needs to be repairs and we lost the majority of our landscaping due to the freeze. g}?GMj(rG-s%&>j^D!sT=MtT7Y-[n+UUzPK7T>e\ ?t^YBeo:(IhZ12C#h=I4V%Vc)8=7N (h&f
+f?4c[JbLucy?9FY]dSHFW Can I use the grant money for these expenses? A: No, you cant use the grant money for these major improvements. Buy a new vacuum cleaner, front door porch light, replace old gutters, large kitchen appliances, install a new kitchen island? Q: If I pay myself the entire amount of the grant money, will I need to explain why? 2 0 obj
Will I have to pay taxes on what I am getting reimbursed for? A: Yes. The amount your reduced tuition would have no impact on your taxes. Afterwards it costs $99.00 a year. A: You should absolutely take it. Consult your state for the answer. Paying yourself involves nothing more than making a record indicating this. Q: Can I pay myself any amount? Is replacing this considered a repair or home improvement? Download our ebook to see why employee stipends are the most common new perk for remote & hybrid work. dollars for the Child Care Stabilization Grants These grants are to provide financial relief to family child care providers and child care centers to cover business costs associated with COVID-19 and to help stabilize their operations This represents a substantial financial benefit to all child care programs! Almost two-thirds of childcare centers are serving less than 75 children and are struggling to break even. Q: I use my car for my business. The Child Care Workforce Stabilization grants supply funding to help child care providers recruit and retain qualified employees as the industry recovers from the pandemic. Q: Can I use the Stabilization grant to replace my old central air condition unit? Child Care Grant: Phase 4. How do I treat this on my taxes? [1]This amount will depend on the state in which the provider lives. Using grant money for 2020 has the same impact as paying yourself. Q: Are there any grants available to add on space to my home without getting a loan? A: If you do child care out of your own home, you are entitled to depreciate your home. Q: One of my bathrooms was flooded. A: You cannot deduct any costs associated with a dog or cat. Q: Can I replace my kitchen flooring because it is cracking and some of the vinyl is breaking up? L*|29j]NG0Sm59!aI6a}4r. A: Apply your time-space% to the monthly mortgage payment. child care, child and adult protective services, adoption, and child support services. If 30 percent of her home is used for the child care business, then only 30 percent of the grant funds used to pay her mortgage/rent can be deducted. A: You can apply some of the grant money to cover lost revenue, but you cant deduct lost revenue as a business expense. Q: I gifted some of the grant back to parents because of COVID. All organizations receiving funding must report this as income to your program. Contact your state to get the answer. These funds will help early childhood and childcare providers keep their doors open and continue to provide these essential services that are critical for a strong economic recovery and a more equitable future. State tax rules apply. A: If you did more than replace the roof shingles such as replacing the roof boards underneath the shingles, then this would probably be considered a major home improvement. Is this grant counted as income? Q: Would it be beneficial for me to take the Stabilization grant in 2021 or wait until 2022? ! Q: If I have parents are paying me, can I still pay myself and just make more money those months I pay myself? Q: Can I use the grant to landscape my backyard to build a play set for the daycare? A: You arent paying yourself for any particular hours you work. Providers can therefore use all or part of the grant to pay themselves. This can be done by transferring money from one bank account to another, writing yourself a check, or leaving money in one bank account and make a note indicating that this is money to pay yourself. Check with your state agency about this grant question. A: You can use a vehicle for both business and personal purposes. See the video here: [video width="1390" height="1000" mp4="http://tomcopelandblog.com/wp-content/uploads/2022/02/Questions-and-Answers-about-Stabilization-Grants.mp4"][/video]. ODJFS created the Child Care Stabilization Sub-Grants for these efforts. A: Having a room used exclusively for your business will greatly increase your time-space%. With this funding the Illinois Department of Human Services continued the Child Care Restoration Grants (CCRG) and provided 6 rounds of CCRG grant funding from January 2021 - December 2022, providing over $6 million in relief funding to child care programs in Illinois. Q: Are the Stabilization grant requirements the same from state to state as to what I can use the money for? By using our website you consent to the use of cookies, two-thirds of childcare centers are serving less than 75 children and are struggling to break even, American Rescue Plan Act (ARPA) Child Care Stabilization Grant requirements by state. Should I apply for the Stabilization grant?, Is the money I received from the grant taxable income, even if I didnt receive Form 1099?, Is it better to pay myself or spend it on my business?, These are some of the many questions Ive received during my February 10th webinar How to Save Money on Your 2021 Taxes.. Provider As household income is low enough; she may only owe the 15 percent in social security and Medicare expenses and can keep $2,975 for any use. If so, how do I do this? Q: If I previously took out a loan for my business, may I use the Stabilization grant to pay some of off? Can I deduct this? Q: Beside the grant, is there a stipulation for how long you have to stay in business? A: Not directly. March 27, 2020: The largest enacted relief effort to date, which passed with broad bipartisan support, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, was signed into law.The CARES Act provided the Child Care and Development Block Grant (CCDBG) with $3.5 billion and Head Start programs with $750 million. Are you saying this is not deductible? If you did give parents a discount, the amount you gave as a discount is not a business expense. Programs that are awarded a grant will receive an IRS Tax Form 1099-NEC. While the initial requirement for the stabilization grant was that a provider must have been open on or before June 25 . It doesnt matter if you havent lost any children. This bill, based on President Biden's bold American Rescue Plan, provides $39 billion in desperately needed child care relief funding. A: Yes, a staff bonus must go through normal payroll, which means you are withholding payroll taxes in the same way as you process wages. Using Child Care Stabilization Grant funds to pay federal taxes is not an allowable expense. See how Compt can help you and your employees utilize these federal funds: Schedule a Demo: Our customers have figured out how: lifestyle spending accounts! 4 0 obj
A: You can use the grant money directly for these expenses. Q: Can I give different amounts of a bonus to my employees? You can deduct the business portion of other animals that you incorporate into learning activities with the children. A new 1099-NEC form for reporting non-employee compensation was introduced by the IRS for 2020. Regarding federal tax rules, please contact your tax preparer or the Internal Revenue Service for guidance. A: I dont know. A: No, you cant decrease wages or benefits to employees during the grant period. Q: May I decrease wages for employees during the grant period? The webinar highlighted tools to help apply for the . This is unsustainable for many reasons. Q: Can I use the grant money to rewire my home? %
A: You can count all the hours children are present in your home. A: You can count all hours that you work in your home, either caring for children or doing other business activities. On another slide it says that state grants are taxable income. The federal guidance says you should give parents tuition relief, to the extent possible. This is not a requirement. ?y-|G1H3/_|/I'>_|!P,0ZE2:PTon_h You can treat this as a repair and deduct your time-space% of this cost in one year. Q: We are a non-profit preschool facility in our church. A: The remodeling of a room is considered a home improvement that you must depreciate over 39 years after applying your time-space%. Funds must be used to support the key operating expenses of child care providers to help ensure access to child care for families. Access to safe and reliable child care is the backbone of our economy and essential for employees to get back to work. A: You can pay yourself as often and as much as you want. How to Use Child Care Stabilization Grant Funding to Support Your Home-Based Setting. You can pay yourself with the EIDL loan. Applications were closed for the Child Care Stabilization 2.0 for Workforce Supports on December 14, 2022. Is this deductible? Supporting Centers in Preparing for Child Care Stabilization Grants, Tom Copelands Blog: Taking Care of Business, Find Stabilization Grant Applications for your State or Territory, State Scan of Family, Friend, and Neighbor (FFN) Policies and Supports, Compensating ECE Professionals in the Manner They Deserve: A PA Early Learning Centers Quest, The Long Road to Paying ECE Professionals Their Worth: One Providers Yearslong Effort. It wont matter if he doesnt sign it. A: No. No! Get more information about KidKare. But, dont spend money on items you dont really need, in order to avoid paying taxes. Q: If I was audited, would they just audit my grant or my entire business? To receive grant funds, child-care providers must submit an application. KidKare is a comprehensive record keeping program that includes an accounting section that allows you to keep track of all your income and expenses. The Child Care Stabilization Grant (CCSG) Program sustains Arizona's child care network by giving a consistent, reliable funding source directly to child care providers to cover increased cost and challenges due to COVID-19 through June 2023. Q: I bought flowers for the front yard and new patio blocks leading to the front door. Q: Can I use this grant to pay myself? Replace worn out bedroom carpet and hallway with wood floors? You may use grant funds to pay for an accountant or financial advisor. This webinar for training and technical assistance providers was presented on June 24, 2021. The webinar was sponsored by Early Childhood Investigations. This funding is subject to the same tax rules as regular CCDF funding. Stipulations for what the funds can be spent on and how to properly report them. A: Some states have different rules about this. Q: If someone takes the grant and decides they no longer want to be in daycare, will they have to reimburse the money received? I thought it was seven years. The NJ ARP Stabilization Grants range from $30,000 to $120,000 for licensed child care centers, depending on license capacity, provider type and monthly expenses. Phase two will include application, awarding, and issuing of funding. Many states are requiring that 20% of the grant be allocated to employees. The IRS has published information indicating that "receipt of a government grant by a business is generally not excluded from the business's gross income under the Federal Tax Code and therefore is taxable." Our goal is to help your program become financially secure. You can use the grant money to pay yourself and then pay off the loan. The American Rescue Plan Act (ARPA) Child Care Stabilization Grant, which some call the daycare grant, is a federal financial assistance program recently launched by the Office of Child Care to provide $24 billion of economic relief to child care programs impacted by the COVID-19 pandemic across the country. Q: If I pay myself and then use some of the money to purchase items for my business, can I still deduct this as a business expense? Thats because hell have to report it as income and in some states youll have to purchase workers compensation for him. You should spend all the grant money, either on equipment, supplies and other operating expenses, or give the staff and director a bonus. Can I use the grant to hire a clean-up crew? Q: I have been closed all year because of COVID and health issues that put me at high risk. There has never been this amount of federal funding dedicated to childcare providers, which makes this an incredible opportunity. Eligibility Application Recertification Questionnaire Training Grant Funds You will then report your wages as income. Q: Can I pay myself in one lump sum or do I have to pay myself weekly or biweekly? On February 1, 2022, the Commission received an additional $1 billion of COVID-19 stimulus funding to the 2022 CCRF, bringing the total . This report provides a state-by-state overview of FFN policies and supports and highlights some examples of the ways in which states and local entities are supporting FFN providers who serve isolated families with low incomes. If so, the corporation must pay you with the grant money through your normal payroll process which means paying payroll taxes. This grant signifies a powerful gesture of government support for families and businesses as the economy recovers. You can use this amount with grant money. Q: Can I use the Stabilization grant for: Pay my employees life insurance premiums? In general, every licensed or regulated provider is eligible. A: Only if you already have a post-secondary degree. Stabilization Grants Q: You said I could offer employees a one-time bonus. Mifflintown, PA 17059. The Child Care Stabilization Grant Program is the latest round of funding the Mills Administration has made available for child care providers, in addition to $175 million for system improvements to support families and providers outlined in the DHHS Child Care Plan for Maine, as well as $10 million in capital funds for child care facilities . Providers must submit an application use it for this grant to replace my kitchen flooring it! Guidance says you should give parents tuition relief, to the urgent need to explain?. Any particular hours you work in your home the tax implications of the money... Because of COVID can also use the standard meal allowance rate to deduct Food?...: I gifted some of off we lost the majority of our economy and essential for employees during the be... 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