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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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#1
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So im preparing to.open my hdc in aug and in anticipation i have been purchasing items for it. Like toys puzzles books furniture baby swings, etc. But ive been buying them off craigslist, swap sites, or yard sales. And of course i didnt ask for receipts because i completely forgot about it. Can i claim these items on my taxes? Is there a certain amt i can claim and not need a receipt? Can i maybe print off coorespondence between myself and the seller to verify? But then what about the uard sale stuff? Ive spent close to $200 already so advice would be appreciated. In the future should i just buy a receipt book and ask them to.sign it?
Thanks i appreciate the help |
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#2
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I do try and remember to ask for a receipt....if you used a check, then of course you can use that as a receipt.
I was told years ago by H&R Block that as long as the purchase is not over $100 then you could make your own receipt. But, I never did check to see if that was correct or not. I would ask Tom Copeland. |
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#3
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Yes you can claim those types of purchases. For yard sale type things I have a small notebook that I keep in my car that I keep the mileage information for my trips, and I make a note of the address, what I bought and what I paid for it. If the seller will sign it all the better, but a lot of times they won't. If it's a larger purchase (like over $20) I will take a digital photo of the item and name it with the purchase date, address and amount paid on my computer in my tax file.
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#4
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Good to know. Im going to take pictures of the stuff i bought and then log itin a notebook. And from now on ill just take a receiptbook with me. Thanks
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#5
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I think those logs your making sound good. You're being pretty smart about it.
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#6
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Here's an article I wrote: "How to Keep Records for Craigslist and Yard Sale Purchases." http://www.tomcopelandblog.com/2011/...purchases.html
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http://www.tomcopelandblog.com |
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