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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 01-17-2011, 04:37 AM
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Default Care Loan/Lease Interest

I just opened my childcare in September 2010 but started getting things ready and advertising in July so I have receipts dating back to then. Would I start my lease interest from July or September (When my first child was enrolled).
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Old 01-17-2011, 08:51 AM
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Default Expenses before business began

In general, expenses you incurred before your business begins, that are for your business, can be claimed after your business begins. However, your lease costs shouldn't be claimed until your business began in September because it wasn't used in your business before then.
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