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mac60 02:13 PM 12-01-2009
Yea, I know there are tax write offs, I have been doing this for over 10 years. My point was that my day does not end at 5:15 when the kids leave. I/We pay expenses that I am sure the parents don't even think about. Yea, I may get to write off food at the end of the year, but I still have to buy it throughout the year. So while the deductions at the end of the year are nice, I still have to pay my utility bill, buy groceries, pay the insurance premium, put gas in my car to go buy the groceries.

And my accountant has told me, you never want to have a consistent loss, that raises lots of red flags.

If your wife does dc, I would think you of all people would understand what it cost to run a dc week to week. Just last week alone I made a purchase for dc, a kitchen set that cost me $85. Yea, I will be able to deduct that, but I still had to have the cash to pay for it at the store, and make the house payment, buy groceries, pay the electric biill, etc etc. Bottom line is, we put a lot of our income back into the business and the parents don't realize it, or want to understand it. They must think the grocery fairy stops by once a week and drops off food.
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