Daycare.com Forum

Go Back   Daycare.com Forum > Daycare and Taxes

Daycare and Taxes All things related to Taxes and running a Daycare post here. Topics of tax exemptions, forms, filings, tax write offs, IRS etc.

Reply
 
Thread Tools Display Modes
  #1  
Old 03-02-2017, 01:18 PM
mindi1314's Avatar
mindi1314 mindi1314 is offline
Daycare.com Member
 
Join Date: Sep 2013
Location: Washington
Posts: 24
Default Deduction Question!

Hi Tom - in the thick of taxes right now and full of questions. So very much appreciate a place to turn and have an educated answer. Calms all my fears !
Question is this -
When I start inputting my expenses such as operating supplies, do I need to list each item or can I bulk together as long as I have receipts to verify ?
Example - instead of saying crayons, paper, paint, glue, etc can I just add up all those items and list as "art supplies"
Can't imagine IRS wants me to list EVERY single item.
Thank you
Reply With Quote
  #2  
Old 03-03-2017, 11:51 AM
TomCopeland's Avatar
TomCopeland TomCopeland is online now
Business Author/Trainer
 
Join Date: Jun 2010
Location: St. Paul, Minnesota
Posts: 2,661
Default Expenses

Quote:
Originally Posted by mindi1314 View Post
Hi Tom - in the thick of taxes right now and full of questions. So very much appreciate a place to turn and have an educated answer. Calms all my fears !
Question is this -
When I start inputting my expenses such as operating supplies, do I need to list each item or can I bulk together as long as I have receipts to verify ?
Example - instead of saying crayons, paper, paint, glue, etc can I just add up all those items and list as "art supplies"
Can't imagine IRS wants me to list EVERY single item.
Thank you
You can lump together expenses such as supplies rather than listing them separately. So, yes, say "art supplies".
__________________
http://www.tomcopelandblog.com
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Home Office Deduction Question Unregistered Daycare and Taxes 2 02-21-2016 12:35 PM
Phone deduction question - tom CrackerJacks Daycare and Taxes 1 08-18-2014 08:25 AM
Deduction Question? llove530 Daycare and Taxes 1 01-15-2014 08:24 AM
Tax Question Re: Standard Meal Deduction AcornMama Daycare and Taxes 7 10-07-2013 06:05 PM
Tax Write Off List, Can't Find daycare Daycare and Taxes 22 03-05-2013 07:17 PM


All times are GMT -7. The time now is 11:53 PM.



Daycare.com         Find A Daycare         List Your Daycare         Toys & Products                 About Us

Daycare.com
Please read our Disclaimer before continuing.

Topics pertain mainly to the following States:

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming