Hello,
My wife officially started her daycare yesterday 04-16-12 and obtained her daycare license Feb 2012. She started buying equipment last year in August as well as incurring fees for licensing and other documents. Can we claim any of last years purchases and fees or would we just file it all together for next year?
Thanks,
Gerry
TomCopeland 01:52 PM 04-17-2012
Since your wife didn't start her business until 2012, you must claim all the expenses you had in 2011 for her business on your 2012 tax return.
Thanks Tom...Next dumb question here - I'm also wondering how we obtain a Tax ID...is that the same number as our business license?
Thanks again,
Gerry
TomCopeland 12:15 PM 04-22-2012