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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.

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Old 02-06-2020, 08:31 PM
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Crafty Crafty is offline
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Default Paying Taxes for Zero Income???

Looking for your opinion.
I opened in-home daycare in October 2019 and by some reasons haven't started yet. So my income was zero.
My husband applies his taxes including me.
What should I do?Do I need tax application separately for my in-home daycare?

Please,need your advises
Thank you!
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Old 02-06-2020, 08:41 PM
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Texas state
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Old 02-07-2020, 12:36 AM
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Michael Michael is online now
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Welcome to the forum. Here are some threads that may be helpful: https://www.daycare.com/forum/tags.p...ly+or+separate
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Old 02-07-2020, 06:40 AM
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I think you should be able to claim -o income. I would look into it ,possibly with a professional tax person.Start up costs should be deductible.
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Old 02-07-2020, 08:14 AM
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Default zero income

Quote:
Originally Posted by Crafty View Post
Looking for your opinion.
I opened in-home daycare in October 2019 and by some reasons haven't started yet. So my income was zero.
My husband applies his taxes including me.
What should I do?Do I need tax application separately for my in-home daycare?

Please,need your advises
Thank you!
I assume you were ready to care for children in 2019. In that case you can claim any business expenses on Schedule C and show a loss. That loss will reduce your husband's taxable income. You want to file jointly.
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Old 02-07-2020, 07:11 PM
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Crafty Crafty is offline
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Quote:
Originally Posted by TomCopeland View Post
I assume you were ready to care for children in 2019. In that case you can claim any business expenses on Schedule C and show a loss. That loss will reduce your husband's taxable income. You want to file jointly.
Thank you for respond!
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