Default Style Register Forum
Daycare and Taxes>Security Deposit Return
Reimel61 05:41 AM 01-20-2021

How do I address a refunded security deposit tax wise? Normally I apply it to the last week of care but I abruptly ended care with this family due to Covid and wanting to remain small in size due to the pandamic. Due I count it as a business expense? and not worry that she has already claimed it in a previous year or do I deduct the amount from her year end payment statement and just count as less income for my business?

Tags:deposits, refund, tax advice