Daycare.com Forum Daycare Management Software

Go Back   Daycare.com Forum > Daycare and Taxes

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.

Reply
 
Thread Tools Display Modes
  #1  
Old 05-17-2012, 07:29 PM
Kim's Avatar
Kim Kim is offline
Daycare Member
 
Join Date: Jan 2010
Posts: 140
Default New Roof?

We are putting a new roof on our house this summer. We bought the shingles and some supplies for it last night. I'm keeping all the receipts for it but am not sure which category to put it in on the calendar keeper and am already wondering what to do when it comes to tax time next year. I'm assuming only a percentage of it will count towards a daycare expense and that it will have to be depreciated?
Reply With Quote
  #2  
Old 05-17-2012, 08:31 PM
TomCopeland's Avatar
TomCopeland TomCopeland is offline
Business Author/Trainer
 
Join Date: Jun 2010
Location: St. Paul, Minnesota
Posts: 3,033
Default roof

A roof is a home improvement that you depreciate over 39 years. Use your time-space %.
__________________
http://www.tomcopelandblog.com
Reply With Quote
  #3  
Old 05-18-2012, 06:29 AM
Kim's Avatar
Kim Kim is offline
Daycare Member
 
Join Date: Jan 2010
Posts: 140
Default

Thanks for the help Tom!
Reply With Quote
Reply

Tags
deduction - repairs, depreciation, roof, tax question, tom copeland

Thread Tools
Display Modes

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -7. The time now is 10:08 PM.



Daycare.com         Find A Daycare         List Your Daycare         Toys & Products                 About Us

Daycare.com
Please read our Disclaimer before continuing.

Topics pertain mainly to the following States:

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming