Tax Credit for Home Childcare 2020

Julia2 · #1 01-09-2020, 03:56 PM

Hi, is there any tax credit for a new home daycare as a self employed for 2020, I will open my home daycare in a month for the first time, and I will be a self employed for the first time?, thank you.

TomCopeland · #2 01-11-2020, 07:41 AM

Quote:

Originally Posted by Julia2

Hi, is there any tax credit for a new home daycare as a self employed for 2020, I will open my home daycare in a month for the first time, and I will be a self employed for the first time?, thank you.

No, there is no special tax credit for new providers. However, there are hundreds of household expenses you can deduct. And, you can deduct the business portion of all items you owned in your home before you went into business.

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