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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 09-21-2011, 12:35 PM
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Default You Name It, Write It Off!

My tax pro deals with a lot of daycares. Replace the couch, curtains, bedding, paint the walls (again), appliances, a new lawnmower, light bulbs etc. DEDUCT- save dates of purchase for big items.
I combine my scrapbooks of kids into use for interviews, scraps for art projects, picture maker and Eclips machine for school projects. I make and send home pics of children doing activities. All deducted. Even the desk and files I use for my hobby. Every summer when I have some extra kids, I purchase some new play equipment. write off
My family room sofa has to be replaced every three years due to 8 kids relaxing on it-not! Doing daycare has allowed us to keep our house update despite the abuse from little ones throwing up chocolate pudding on the brand new carpet!
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Old 09-21-2011, 01:21 PM
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Originally Posted by Dardy View Post
My tax pro deals with a lot of daycares. Replace the couch, curtains, bedding, paint the walls (again), appliances, a new lawnmower, light bulbs etc. DEDUCT- save dates of purchase for big items.
I combine my scrapbooks of kids into use for interviews, scraps for art projects, picture maker and Eclips machine for school projects. I make and send home pics of children doing activities. All deducted. Even the desk and files I use for my hobby. Every summer when I have some extra kids, I purchase some new play equipment. write off
My family room sofa has to be replaced every three years due to 8 kids relaxing on it-not! Doing daycare has allowed us to keep our house update despite the abuse from little ones throwing up chocolate pudding on the brand new carpet!
Thanks for the info, but to my understanding some of that stuff is actually time sapce % write off, like the sofa....Unless it is exclusive for daycare use...

someone please correct me if i am wrong about this...

thanks again for the info

Last edited by Michael; 09-21-2011 at 01:30 PM.
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Old 09-21-2011, 01:32 PM
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We have extensive TAGs on both deductions and Time Space %. Use the TAG search for specific works. Here are some links on the TS %: http://daycare.com/forum/tags.php?ta...ace+percentage
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Old 09-21-2011, 02:16 PM
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Default Deductions

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Thanks for the info, but to my understanding some of that stuff is actually time sapce % write off, like the sofa....Unless it is exclusive for daycare use...

someone please correct me if i am wrong about this...

thanks again for the info
If something is used 100% for your business, deduct 100% of it. If it's used by your family and your business, deduct it after applying your Time-Space %. If it's only used personally, you can't deduct it.
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Old 09-21-2011, 02:18 PM
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If something is used 100% for your business, deduct 100% of it. If it's used by your family and your business, deduct it after applying your Time-Space %. If it's only used personally, you can't deduct it.
thanks tom...I guess that is what i was trying to say.....
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Old 09-22-2011, 06:46 AM
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Default write it off clarification

I should have indicated I use the time space ratio. I use my entire home for daycare, my home is their home. They have their own bedrooms. I do have to remind them on occasion, it's my house. They will ask me where do I live?
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