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Daycare and Taxes>100% vs T/S %...What am I missing?
Jennifer91 08:48 AM 01-28-2014
Hello all,

Going through my mountain of receipts and I don't think I have ANYTHING that is used 100% for the daycare. I five kids of my own, and everything that I buy (that I can think of anyway) falls into my kids hands at some time. I use the standard deduction for food, so with that out of the picture, is there something that I'm missing that almost all daycare providers claim as 100% daycare use?

Thanks to all who take the time to reply to all these posts from providers (and especially Tom). I love this resource and greatly appreciate all the informative, kind, and sometime humorous responses.
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daycare 08:50 AM 01-28-2014
Originally Posted by Jennifer91:
Hello all,

Going through my mountain of receipts and I don't think I have ANYTHING that is used 100% for the daycare. I five kids of my own, and everything that I buy (that I can think of anyway) falls into my kids hands at some time. I use the standard deduction for food, so with that out of the picture, is there something that I'm missing that almost all daycare providers claim as 100% daycare use?

Thanks to all who take the time to reply to all these posts from providers (and especially Tom). I love this resource and greatly appreciate all the informative, kind, and sometime humorous responses.
do you purchase any curriculum? or items that are specific to the daycare?
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TomCopeland 10:27 AM 01-28-2014
Originally Posted by Jennifer91:
Hello all,

Going through my mountain of receipts and I don't think I have ANYTHING that is used 100% for the daycare. I five kids of my own, and everything that I buy (that I can think of anyway) falls into my kids hands at some time. I use the standard deduction for food, so with that out of the picture, is there something that I'm missing that almost all daycare providers claim as 100% daycare use?

Thanks to all who take the time to reply to all these posts from providers (and especially Tom). I love this resource and greatly appreciate all the informative, kind, and sometime humorous responses.
If you bought toys, supplies, etc that cost less than $100 and you only used them for your business in 2013, you can deduct 100% of the cost, even if your own children first used these same items in 2014.

Other potential 100% items might include: children's furniture, DVD rentals, curriculum, etc.

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MarinaVanessa 10:45 AM 01-28-2014
Originally Posted by Jennifer91:
Hello all,

Going through my mountain of receipts and I don't think I have ANYTHING that is used 100% for the daycare. I five kids of my own, and everything that I buy (that I can think of anyway) falls into my kids hands at some time. I use the standard deduction for food, so with that out of the picture, is there something that I'm missing that almost all daycare providers claim as 100% daycare use?

Thanks to all who take the time to reply to all these posts from providers (and especially Tom). I love this resource and greatly appreciate all the informative, kind, and sometime humorous responses.
Some examples of 100% business deductions would be:
-separate business account (fees etc)
-resource books for you for daycare (record keeping guide, environment planning guide etc)
-cost of second phone line for daycare
-licensing/registration fees
-cost of classes/workshops/training having to do with daycare (discipline, activity workshops, record keeping, taxes, chil development etc)
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sahm1225 01:49 PM 01-28-2014
I have a separate area for exclusive daycare use so for me a lot of the toys are daycare toys & we end up buying doubles of lots of things to avoid running up and down the stairs all day!


Strollers
High chairs
Plates & utensils
Kids tables
Curriculum
Crafts

Good luck!
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Tags:100%, deductions, receipts, t/s%, taxes, tom copeland
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