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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 12-23-2011, 02:57 PM
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MissAnn MissAnn is offline
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Default Surveilance System

This year I purchased 4 camera's and a screen to use inside my house....to be able to see all kids at all times. Do I have to depreciate this? If so, can I use the 2011 100% depreciation? How do I enter that into MMK?
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Old 12-23-2011, 03:36 PM
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TomCopeland TomCopeland is offline
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Default surveillance system

Yes, a surveillance system would be 100% deductible. You can use the Section 179 rule to claim it in 2011 rather than depreciating it. You could also use the 100% bonus depreciation rule to claim it this year, as well. If you plan to go out of business in the next 5 years, use the 100% bonus depreciation rule. If your state does not recognize the 100% bonus rule, use the Section 179 rule.
Enter it under "furniture, appliances" on Minute Menu (because it's considered 7 year property).
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