Originally Posted by MarinaVanessa:
Wow, where do I sign up for this?? Those are only tax deductible if they specifically have to do with your daycare and even then only on a time/space percentage. Meaning: You take how much time you take care of kids and the square footage you use in your home and that's the percent that you can use as a tax deductible. Still, it's nice to get up to 40% (sometimes more) tax deductions on everyday things.
You can sign up with any good CPA or tax professional.
The tax advantages of operating a home based business are tremendous, anyone who doesn't think so should prepare their taxes twice....once using the same income numbers and expenses under the rules for a home based business, and then re-figure the numbers as if you were an employee (same income, but no business related deductions).
Before you do, be sure you have your nitro pills close by if you have a heart condition.
