M&Mgal 01:54 PM 11-10-2014
We have a fire bellied toad that the kids can't touch, but absolutely love to watch. Also a hamster that we don't let the kids hold in fear of it getting hurt. They were both originally my daughter's and when she decided she didn't want them in her room anymore, we moved them into the living room. We have considered getting rid of them a couple of times, but don't only because of how much the daycare kids enjoy watching them. Can we deduct their food & care expenses?
TomCopeland 02:27 PM 11-10-2014
Originally Posted by M&Mgal:
We have a fire bellied toad that the kids can't touch, but absolutely love to watch. Also a hamster that we don't let the kids hold in fear of it getting hurt. They were both originally my daughter's and when she decided she didn't want them in her room anymore, we moved them into the living room. We have considered getting rid of them a couple of times, but don't only because of how much the daycare kids enjoy watching them. Can we deduct their food & care expenses?
You could deduct a portion of their food and care expenses if you incorporated them into learning activities for the children. So, you may have the children learn various things about these pets, sing songs, draw pictures, etc, then you could deduct them.
M&Mgal 02:35 PM 11-10-2014
Thanks!
LaLa1923 08:39 PM 12-28-2014
Originally Posted by TomCopeland:
You could deduct a portion of their food and care expenses if you incorporated them into learning activities for the children. So, you may have the children learn various things about these pets, sing songs, draw pictures, etc, then you could deduct them.
How would you deduct them? Time space??
TomCopeland 02:27 PM 12-29-2014
Originally Posted by LaLa1923:
How would you deduct them? Time space??
Unless the pets were only interacting with day care children, use your time-space % to deduct their costs.
nothingwithoutjoy 05:45 PM 12-29-2014
Pets are one thing I have never deducted. I remember reading somewhere when I started out that you couldn't. I must have been misinformed! We have cats that are family pets and it makes sense to me not to deduct their care. But we also have chickens, and they are a big part of the kids' learning. It would make sense to me to deduct some of their care. Thanks for the info, Tom!
TomCopeland 06:59 PM 12-29-2014
Originally Posted by nothingwithoutjoy:
Pets are one thing I have never deducted. I remember reading somewhere when I started out that you couldn't. I must have been misinformed! We have cats that are family pets and it makes sense to me not to deduct their care. But we also have chickens, and they are a big part of the kids' learning. It would make sense to me to deduct some of their care. Thanks for the info, Tom!
Don't try to deduct the cost of dogs or cats. Chickens, yes, as long as they are a part of the kids' learning. See my article on this:
http://www.tomcopelandblog.com/2010/...eductible.html