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Daycare and Taxes>Tax Question
JarrettBer 11:23 PM 11-02-2011
I've sent in the paperwork with the fee and am waiting to get that back then I will have to pass fire safety and then I will be registered. I am babysitting a few children now though.... my question is, Is the food, kleenexes, printer/ink, wipes, toys, part of our electric/rent payment, water, etc. that I am buying from this point until I become registered tax deductable or not since I'm not exactly a business yet? Is there any interesting things that are tax deductable that I may not be aware of? Any info on this would be great.
TomCopeland 01:24 PM 11-04-2011
Since you have applied to be registered, the IRS will treat you as if you are registered. This means you can deduct all child care expenses: house expenses (property tax, mortgage interest, utilities, house insurance, house repairs, depreciation on the home) as well as car expenses, food, supplies, toys, furniture and appliances, and so on. My book Family Child Care Record Keeping Guide lists over 1,000 allowable deductions.
Tags:deduction - supplies, deductions
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