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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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  #1  
Old 09-18-2010, 03:35 PM
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Default Tax Question: Do You Write Off Sales Tax Too?

So when you buy supplies and what not, are you suppose to include the sales tax in your expense total? Does it depend on what state you live in?

And when entering expenses into MMK, do you include the tax in the total expense (ex: if I buy clorox wipes at walmart and they are 5.99, do I only use that amount or would I include the tax and use 6.47?) or do you use a separate category for sales tax?

This is teh part of the business I hate!!
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Old 09-19-2010, 04:35 PM
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Just have to brag: Oregon does not have a sales tax! Yippeee!!

Ok, carry on.
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Old 09-19-2010, 06:16 PM
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Ok, this is a very good question and I hope someone can chime in that knows for sure...this is all new to me and I HAVE been including the sales tax in my totals.
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Old 09-19-2010, 06:45 PM
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Come on Tom we are waiting for you!
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Old 09-20-2010, 03:23 AM
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In the 11 years I have done childcare, I have never had a tax preparer ask me for totals not including sales tax. If I buy kleenex and supplies for dc, there is tax on it, why wouldn't it be included in the cost.
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Old 09-20-2010, 06:37 AM
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I always incluse the sales tax, I just use the total off the reciept.
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Old 09-23-2010, 02:43 PM
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I'd love to know the correct answer to this question, too!
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Old 09-23-2010, 04:13 PM
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I always deduct my receipt totals.
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Old 09-23-2010, 05:11 PM
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Default Sales Tax

Sales tax is a deductible business expense! Make sure you include it in the price. If you are buying something that is used for both business and personal purposes include the sales tax in the price before multiplying it by your time-space percentage.
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Old 09-23-2010, 05:54 PM
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Quote:
Originally Posted by TomCopeland View Post
Sales tax is a deductible business expense! Make sure you include it in the price. If you are buying something that is used for both business and personal purposes include the sales tax in the price before multiplying it by your time-space percentage.
Thank you! Sales tax may not seem like much per sale but during the course of a year, it adds up.
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Old 05-03-2011, 03:39 PM
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Quote:
Originally Posted by Joyce View Post
Just have to brag: Oregon does not have a sales tax! Yippeee!!

Ok, carry on.
Braggart : P

Pa
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