Originally Posted by Julia2:
Oh , I thought for a daycare I have to open a LLC, so what is your advice in my case, my accountant toll me if I open a LLC I can chose how to pay taxes , I can choose pay taxes as an individual, or ‘S’ O ‘C’, my home daycare will be small with 6 children, do I open a LLC or no, I am planing to do this on January 15, as far as I know from YouTube , please correct me if I am wrong, they say as an individual self employment I can’t do many deduction like the use of my home , car, etc; but if I create a LLC and do my taxes as S’ I can do deductions, is this true , what will be better in my case, thank you
Sounds like your accountant does not understand daycare taxes and you might want to find a new one. I recommend that you check out
www.tomcopelandblog.com and ask him these questions directly. You can message him through here also. He is a well known author and lawyer for daycare taxes.
You can also find his classes on YouTube.