Originally Posted by lovemykidstoo:
I definitely need more deductions. So far I have under the t/s utilities, homeowners insurance, taxes, cable/phone, Under my 100% I have business supplies (which I include training, items like cots/beds, bottles etc), gifts (which we can only do $25 per year per child right?), mileage, daycare liability insurance.
Reading through these threads. How do I categorize toilet paper, paper towels, paper plates, napkins, laundry soap because I was the bed linens, blankets etc, can I do dish soap, hand soap things like that that are non-food that we share with the daycare kids. Also thing for outside like salt to melt the ice, Anything else that I missed?
The $25 limit per child only refers to gifts to children, not supplies. You can categorize expenses however you want. My book Family Child Care Record Keeping Guide lists over 1,000 deductions. See also my article:
http://tomcopelandblog.com/whats-ded...-care-business