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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 10-29-2012, 05:12 AM
frugalmama4's Avatar
frugalmama4 frugalmama4 is offline
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Join Date: Jan 2012
Location: Texas
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Default Tom Copeland Question On Claiming Shared Expense

Good Morning Tom, I hope you had a great weekend!

Questions-

I shared the expense of advertisement with another provider, unsure how to claim it.

1. Store ad: The contract was listed under the other provider name (business & personal…I do have a copy of the contract also) and payment was drafted from her bank account monthly. I paid my share to her using cash and checks…how would I claim this for my taxes?

Other write offs-

2. I purchased a commercial 6 passenger stroller (100% daycare use) cost $600.00; can I write off the entire amount all at once? Or will I have to deprecate it?
If deprecate, which method and convention? I use MMK to input all expense.
3. I purchase myself a new bed and mattress (No daycare kids allowed), is this still something I can write off? (I mean I need to have a good night sleep…right)? 
4. I attend monthly association meetings, can I write off my dinner expense? If so, where do I input this in MMK?
5. Can I write off the cost of scrubs? (I wear during daycare hours)
6. I purchased decorative items (bowls, vases) sits on my entry way table? Can I claim this under time-space?
7. Can I write off my Homeowners association dues? Where would I input this in MMK?
8. We purchase a new truck "paid cash to owner $2800.00 taxes $290.00" it's use for business and personal. How do I claim/write this off?

Thanks so much Tom for all you do for us providers!

Have a great Monday!

Last edited by frugalmama4; 10-29-2012 at 05:30 AM. Reason: added question
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