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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 03-18-2013, 03:46 PM
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TheGoodLife TheGoodLife is offline
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Default 1st Time Filing Taxes with DC.

So I opened my DC in August and am ready to file taxes (almost!). I always did ours before but we are going to either go to a tax preparer or use TurboTax for this first year. What you you recommend doing? For those of you who have used it, is TurboTax pretty good at prompting the correct questions and inputing the correct things? Or is it worth it to pay more and go to a live professional? TIA!
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Old 03-18-2013, 04:19 PM
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TomCopeland TomCopeland is offline
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Default Turbo tax?

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Originally Posted by Mama2Bella View Post
So I opened my DC in August and am ready to file taxes (almost!). I always did ours before but we are going to either go to a tax preparer or use TurboTax for this first year. What you you recommend doing? For those of you who have used it, is TurboTax pretty good at prompting the correct questions and inputing the correct things? Or is it worth it to pay more and go to a live professional? TIA!
I would not recommend using Turbo Tax since this is your first year in business. Turbo Tax does not ask the right questions for providers. It doesn't ask you to enter the time-space % of shared items. I only suggest using tax software if you are already very familiar with the tax rules.
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