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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 11-19-2015, 07:47 AM
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yodaone yodaone is offline
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Default 2015 Taxes, But Not Starting till 2016

Hello,
This year I've purchased several items and paid for many things for my daycare that I would like to write off. However, I don't plan to official open until January 2016. How can I write off the items I purchased and claim them on my 2015 taxes? Thanks!
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Old 11-19-2015, 08:30 AM
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Originally Posted by heatherann View Post
Hello,
This year I've purchased several items and paid for many things for my daycare that I would like to write off. However, I don't plan to official open until January 2016. How can I write off the items I purchased and claim them on my 2015 taxes? Thanks!
Since you won't be in business until 2016, you must deduct these expenses on your 2016 tax return.
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Old 11-19-2015, 09:09 AM
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Thanks Tom! So if I understand correctly, even though I purchased and paid for things in 2015, I'll be able to write them off in 2016? That's not so bad :-)
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Old 11-20-2015, 06:23 PM
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Originally Posted by heatherann View Post
Thanks Tom! So if I understand correctly, even though I purchased and paid for things in 2015, I'll be able to write them off in 2016? That's not so bad :-)
Yes, that is so.
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