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Forum: Daycare and Taxes 01-14-2014, 01:09 PM
Replies: 1
Views: 1,691
Posted By llove530
Deduction Question?

How do I deduct a new lawn mower, front door, cement fixing on stoop, and kitchen faucet?
Forum: Daycare and Taxes 01-02-2012, 04:55 PM
Replies: 3
Views: 1,939
Posted By llove530
How can you deduct flowers/bushes/trees as part...

How can you deduct flowers/bushes/trees as part of daycare costs??
Forum: Daycare and Taxes 02-02-2011, 03:24 AM
Replies: 8
Views: 4,891
Posted By llove530
I have a friend that does this. How would anyone...

I have a friend that does this. How would anyone know if she is paid in cash ?
Forum: Daycare and Taxes 02-01-2011, 11:50 AM
Replies: 8
Views: 4,891
Posted By llove530
What if you only claim what your state legally...

What if you only claim what your state legally allows you but still keep more children?
Forum: Daycare and Taxes 02-01-2011, 10:24 AM
Replies: 8
Views: 4,891
Posted By llove530
What do you mean by house expenses? Can you...

What do you mean by house expenses? Can you provide examples?
Forum: Daycare and Taxes 01-31-2011, 10:00 AM
Replies: 22
Views: 4,931
Posted By llove530
So what are the odds of an audit when someone...

So what are the odds of an audit when someone makes so little money to begin with??
Forum: Daycare and Taxes 01-31-2011, 09:15 AM
Replies: 8
Views: 4,503
Posted By llove530
Thanks Tom - I think I will take your advice and...

Thanks Tom - I think I will take your advice and lower some of my expenses to show a profit. Even if it's a small one I would think that is better than $0
Forum: Daycare and Taxes 01-30-2011, 04:43 PM
Replies: 22
Views: 4,931
Posted By llove530
What is you only make a profit of $163?

What is you only make a profit of $163?
Forum: Daycare and Taxes 01-30-2011, 02:53 PM
Replies: 8
Views: 4,503
Posted By llove530
Really? I have been doing daycare for 3 yrs now...

Really? I have been doing daycare for 3 yrs now and in NC you can only watch 2 children without a license. So I have NOT really made any profit. I really don't want to be flagged for an audit.
...
Forum: Daycare and Taxes 01-30-2011, 02:13 PM
Replies: 8
Views: 4,503
Posted By llove530
Hi there - my T&S is 28.54% However, my...

Hi there - my T&S is 28.54%

However, my income being only $8250 this year it is giving me a $4k loss and I think that might flag an audit?? I'm considering not claiming the heating unit. ...
Forum: Daycare and Taxes 01-29-2011, 09:26 AM
Replies: 8
Views: 4,503
Posted By llove530
Depreciation Question for Tom

Hi Tom,

We purchase both a new gas stove and a new AC/Heating unit in December 2010. How do I claim these?

The questions Turbo Tax ask are:

Description:
Cost:
Business Use Percentage:
Forum: Daycare and Taxes 01-22-2011, 05:14 AM
Replies: 11
Views: 5,964
Posted By llove530
Ok so when I entered all our personal deductions...

Ok so when I entered all our personal deductions TurboTax told me we would be better off using the standard deduction as that was more $$ than what we had itemized. So what should I do ?
Forum: Daycare and Taxes 01-20-2011, 11:06 AM
Replies: 11
Views: 5,964
Posted By llove530
What if we take the standard deduction on our...

What if we take the standard deduction on our personal taxes and don't use Schedule A?
Forum: Daycare and Taxes 01-19-2011, 07:22 PM
Replies: 22
Views: 4,931
Posted By llove530
What if every year is a loss?

What if every year is a loss?
Forum: Daycare and Taxes 01-19-2011, 07:17 PM
Replies: 11
Views: 5,964
Posted By llove530
Isn't Schedule A for personal items and 8829...

Isn't Schedule A for personal items and 8829 business? So when claiming mortgage interest, I should split between both forms instead of taking it as a personal deduction???
Forum: Daycare and Taxes 01-19-2011, 07:06 PM
Replies: 3
Views: 2,451
Posted By llove530
Tax Question for Tom Copeland

Isn't there a certain amount of money you can earn and not have to report?

Thx!
Forum: Daycare and Taxes 01-10-2011, 02:44 PM
Replies: 7
Views: 3,063
Posted By llove530
For Tom again!!

I am claiming the Energy Credit on my personal taxes and not business.

Wow 39 yrs. that is a long time !!
Forum: Daycare and Taxes 01-10-2011, 02:35 PM
Replies: 1
Views: 3,490
Posted By llove530
Utilities Expenses for Tom Copeland

Tom,

Do I also need to figure out my Time/Space % before entering my all utilities into Turbo Tax? I think I did it wrong last year on my 2009 taxes by entering in the total amount thinking Turbo...
Forum: Daycare and Taxes 01-10-2011, 02:30 PM
Replies: 7
Views: 4,134
Posted By llove530
Thanks Tom! I want to order your tax book but...

Thanks Tom! I want to order your tax book but right now it is backordered!!
Forum: Daycare and Taxes 01-09-2011, 04:16 AM
Replies: 7
Views: 3,063
Posted By llove530
Do I have to figure out the time / space % myself...

Do I have to figure out the time / space % myself and then put in that figure?
Forum: Daycare and Taxes 01-09-2011, 03:49 AM
Replies: 7
Views: 4,134
Posted By llove530
TurboTax ? For Tom Copeland

Doesn't Turbotax calculate your time/% for you once you enter in your deductions? Or do you have to figure that out first and then enter?

Help!!
Forum: Daycare and Taxes 01-08-2011, 05:16 AM
Replies: 7
Views: 3,063
Posted By llove530
I would put it under depreciation though and not...

I would put it under depreciation though and not an expense right?
Forum: Daycare and Taxes 01-08-2011, 02:47 AM
Replies: 7
Views: 3,063
Posted By llove530
Help - Another Depreciation Question

We had to purchase a new heating/ac unit for our house. I use 100% of my home for my daycare. The unit was very costly. How do I write this off on my business taxes. I also included it on...
Showing results 1 to 23 of 23

 
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