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Daycare and Taxes All things related to Taxes and running a Daycare post here. Topics of tax exemptions, forms, filings, tax write offs, IRS etc.

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Old 04-01-2011, 10:18 AM
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legomom922 legomom922 is offline
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Default Ok Tom Have U Ever Been Asked This?

Heres an interesting question:

For DC you can write off business use of bandages, you can also write off bandages as a medical deduction for personal taxes, so would deduct this twice?? Or would I write off my t/s% for DC and then the remaining percentage, write off as medical expense? (if I have enough medical expense to claim that is) So if my t/s% was 20% would I use 80% as personal decduction?
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Old 04-01-2011, 10:21 AM
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Blackcat31 Blackcat31 is offline
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legomom....I gotta tell you, I have been reading all your tax questions and will definitely give you points for being knowledgeable enough to try to do your own taxes, brave enough to try as well and bonus points for some of your creativeness...but I seriously think you missed your calling! If you were a tax preparer and worked as hard as you are working to find all the deductions you can I would hire you in a red hot second!!

Next year, when I try to do my taxes, I am soooo PM'ing you!
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Old 04-01-2011, 05:45 PM
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legomom922 legomom922 is offline
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Quote:
Originally Posted by Blackcat31 View Post
legomom....I gotta tell you, I have been reading all your tax questions and will definitely give you points for being knowledgeable enough to try to do your own taxes, brave enough to try as well and bonus points for some of your creativeness...but I seriously think you missed your calling! If you were a tax preparer and worked as hard as you are working to find all the deductions you can I would hire you in a red hot second!!

Next year, when I try to do my taxes, I am soooo PM'ing you!
Blaccat, Thanks for those kind words however I must tell you I am not doing my own taxes. I wish I was THAT smart! LOL However, I am OCD (cant u tell?)and like to be as thorough as possible, and be as prepared as possible when I go to my appt next sat. I come up with questions as I go through paperwork, as stuff keeps popping into my head! I gotta tell ya, I have always been that way, veryt detailed & organizied, in fact I went o court 3 times without a lawyer and won each case! My Mom says I should have been a lawyer, and during the OJ case, I called in am "idea"/question to Marcia Clark, that no attorney had thought of, and they they used it the next day!

So I have a calling for something, but not sure what!

Thanks again and I will help you anytime! I have learned alot through Tom!
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Old 04-02-2011, 09:49 AM
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TomCopeland TomCopeland is offline
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Default medical

Yes, deduct the t/s% as a business expense and the personal portion as an itemized medical expense.
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