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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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I am a provider and I am choosing to send my son to a licensed (school system) preschool program at a cost of $144 a month. He will attend M and W in the evening when I am not open for daycare. Is this an expense we can use on our taxes next year like someone would who pays for daycare? Is this an educational expense or a child and dependent care expense?
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#2
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You can claim a child care tax credit for sending your child to a preschool program, just like a parent can claim the same credit for sending her child to your program. However, to claim this credit you have to be working or attending school. Since your child is going to preschool when you are not caring for children, you cannot claim this credit, unless you keep records showing that you were doing business activities in your home at the time your child was in preschool. These activities might include: cleaning, record keeping, activity preparation, etc.
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http://www.tomcopelandblog.com |
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| deduction, deduction - preschool program, tom copeland |
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