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Daycare and Taxes>Opening A New Daycare Center
svazquez1984 03:55 PM 05-19-2012
So I'm new to this and I have a load of questions but I will take it one day at a time. I am in the process of opening a daycare center and I'm at the point where I have to purchase furniture and supplies. Are these expenses that I can claim on my taxes? If so how? What other start up cost can I claim if any?
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Michael 04:15 PM 05-19-2012
Welcome to the Daycare.com Forum! I've upgraded your status. You can post freely now.

Tom Copeland answers your question in an earlier thread here: https://www.daycare.com/forum/showthread.php?t=35099
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TomCopeland 02:51 PM 05-24-2012
Originally Posted by svazquez1984:
So I'm new to this and I have a load of questions but I will take it one day at a time. I am in the process of opening a daycare center and I'm at the point where I have to purchase furniture and supplies. Are these expenses that I can claim on my taxes? If so how? What other start up cost can I claim if any?
You can deduct all expenses that are "ordinary and necessary" to your business. This includes furniture, supplies, car expenses, rent, utilities, etc. If you are self-employed, report your expenses on Schedule C. If you are a corporation, report your taxes on the various corporate tax forms.
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dave4him 04:57 PM 05-26-2012
Does this include a new living room couch??
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TomCopeland 10:52 AM 05-29-2012
Originally Posted by dave4him:
Does this include a new living room couch??
If you use the couch in your business, then you can deduct the business portion of it. If you do child care in your home, use your time-space % to determine the business portion. For more on the time-space %, see http://www.tomcopelandblog.com/2011/...tage-quiz.html
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Tags:deduction - start up, florida, start up cost
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