Confused with 100% Deduction
Hi I will open a daycare soon, it will be a LLC , I will take care maximum 5 children, I am starting from scratch, I am working on my license now, MY BIG QUESTION IS ABOUT THE 100% DEDUCTION for daycare items, for example if I purchase a outdoor play set for $500 just for the daycare , do I deducted the 100% in my taxes?, that means I can deduct $500 or how this work?, thank you
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Yes Tom says you can deduct the whole $500 as long as your children do not play on it after hours.
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Deductions
Originally Posted by Julia2: |
Thank you for answer me, I will buy your book from amazon, is there any maximum, I read somewhere that small business can do a maximum deduction of a $5000, thank you
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When I should start buying my home daycare items to deduct 100%?, my license will came out in 3 weeks as far as I know, for now I am buying just used toys, thank you
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100% deduction
Originally Posted by Julia2: |
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