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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 08-04-2013, 09:57 PM
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Thegrayghost1966 Thegrayghost1966 is offline
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Default Tornado Shelter

So, I live in Oklahoma and we have talked about installing a tornado shelter in our garage. How would that be handled tax wise?

I've lived my whole life in Oklahoma without one but after the destruction this year and the fact that I'm opening a home daycare, it's made me think it's time!

Stephanie
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Old 08-05-2013, 09:17 AM
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Originally Posted by Thegrayghost1966 View Post
So, I live in Oklahoma and we have talked about installing a tornado shelter in our garage. How would that be handled tax wise?

I've lived my whole life in Oklahoma without one but after the destruction this year and the fact that I'm opening a home daycare, it's made me think it's time!

Stephanie
We are also considering installing a shelter in our garage when we tear it down and rebuild it (sometime in the next 1-5 years).

I'm in south central Kansas and I feel the same way.. it's pretty much a necessity. Basements don't even sound safe to me anymore.
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Old 08-05-2013, 04:21 PM
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Default Tornado shelter

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Originally Posted by Thegrayghost1966 View Post
So, I live in Oklahoma and we have talked about installing a tornado shelter in our garage. How would that be handled tax wise?

I've lived my whole life in Oklahoma without one but after the destruction this year and the fact that I'm opening a home daycare, it's made me think it's time!

Stephanie
Depreciate the time-space% of the cost over 39 years as a home improvement.
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Old 08-08-2013, 07:50 AM
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Thegrayghost1966 Thegrayghost1966 is offline
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Thank you so much!!
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