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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 02-22-2011, 10:43 AM
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Default Start Up/Tom

Is there a special spot to enter for start up expenses in mmk? or just in the area under house hold expense? For like baby swing high chair bouncy seat etc? and then for folders printer ink etc under office and just put 100 percent? also i bought a new door handle with a lock for a door to store guns in 100 percent or time space and a box to store ammo 100 percent or time space? and what cattergory
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Old 02-22-2011, 12:19 PM
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Default Start-up costs

There isn't a special place to enter start-up costs in MM. It doesn't matter because you don't have to identify which are start-up expenses and which are not. Just claim them the same way.

Put all of the expenses you name under household expenses. You can only claim something as 100% if it's used 100% for your business. I would claim the door handle lock as 100% business. I'm not sure about the box for ammo. Is the ammo in the locked room? If so, I wouldn't deduct any of it.
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Old 02-22-2011, 12:43 PM
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The ammo is in a fire safety box that is locked but it in my bedroom closet. the door handle i bought is down stairs on a closet door with the guns in there. I purposely bought it for the guns to be locked up. It didnt require a lock til daycare


So then all the baby stuff i can claim 100 percent I dont have a baby my daughter is 7 yrs old. I wouldnt have a highchair is it wasnt for daycare. thanks!
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Old 02-22-2011, 02:23 PM
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I am with you on all these taxes, for the life of me I can't seem to get Turbo Tax to give me 100% on all my toys, infant furniture and so on. I have NO children and all this stuff is used 100%.

I hate Taxes I need to find someone in my area to do my taxes!!
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Old 02-22-2011, 03:07 PM
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Default Start up

Okay, deduct 100% of the fire safety box for the ammo. Also claim 100% of the baby stuff since your children are older.

I've posted a tax preparer directory at: http://nafcc.net/index.php?option=co...297&Itemid=105



Monday is the date for my webinar "How to Reduce Your Taxes for 2010 and 2011" sponsored by daycare.com. For more info:http://www.daycare.com/news/taxes/to...d-webinar.html
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Old 03-13-2011, 07:06 AM
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Default Taxes

I have a great tax preparer that specializes in daycare. She can do everything on line with secure passwords and is amazing. She knows her stuff and does my personal stuff too. I highly recommend her. You get a discount if you are new just mention my website, Daycare Headquarters
Angela
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Old 05-18-2011, 06:21 PM
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Angela, what is the person's contact info?
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