Daycare.com Forum Kidacare by Minute Menu Force of Nature Disinfectant

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 04-06-2020, 08:19 AM
Red's Avatar
Red Red is offline
New Daycare.com Member
 
Join Date: Mar 2020
Location: Upstate NY
Posts: 15
Default How to Claim Deduction for House that I Don't Own

Hi, I operate a registered daycare out of our home but I am not on the deed/title and we aren't married yet. I pay for half of all household expenses and use the entire downstairs for the daycare. I also have a playroom used exclusively for the daycare. How do I deduct anything on my taxes?
Reply With Quote
  #2  
Old 04-06-2020, 09:23 AM
TomCopeland's Avatar
TomCopeland TomCopeland is offline
Business Author/Trainer
 
Join Date: Jun 2010
Location: St. Paul, Minnesota
Posts: 3,017
Default unmarried

Quote:
Originally Posted by Red View Post
Hi, I operate a registered daycare out of our home but I am not on the deed/title and we aren't married yet. I pay for half of all household expenses and use the entire downstairs for the daycare. I also have a playroom used exclusively for the daycare. How do I deduct anything on my taxes?
Since you aren't married and your name is not on the deed, you can't claim any portion of mortgage interest, property tax, and house depreciation. You can deduct expenses you pay for such as utilities, house repairs and home improvements. You can calculate your time-space% in the same way as all other providers, including counting an exclusive use room.
__________________
http://www.tomcopelandblog.com
Reply With Quote
  #3  
Old 04-06-2020, 03:53 PM
Red's Avatar
Red Red is offline
New Daycare.com Member
 
Join Date: Mar 2020
Location: Upstate NY
Posts: 15
Default

Thank you, Tom!
Reply With Quote
Reply

Tags
deduction - rental, tom copeland

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
Tax Write Off List, Can't Find daycare Daycare and Taxes 28 02-05-2020 07:55 AM
How to Claim? Or Can I Claim? littlefriends Daycare and Taxes 3 12-03-2018 05:41 AM
Standard Food Deduction Scout Daycare and Taxes 2 03-14-2014 04:49 PM
Tom-What Year to Claim Things In? Country Kids Daycare and Taxes 1 02-11-2013 03:28 PM
Is Deducting Expenses The Same As Claiming Other Deductions On Taxes? legomom922 Daycare and Taxes 14 01-25-2011 08:35 PM


All times are GMT -7. The time now is 06:31 AM.



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