Forum Daycare Management Software

Go Back Forum > Daycare and Taxes

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.

Thread Tools Display Modes
Old 02-06-2013, 06:41 AM
awestbrook713's Avatar
awestbrook713 awestbrook713 is offline
Join Date: Aug 2011
Location: New York
Posts: 420
Default Depreciation when you've gone out of business.

Can I still claim depreciation if I went out of business before the end of the year?

If I can:
Can I still claim depreciation on items such as the new water heater we had to buy or the multi purpuse printer. Both items were bought while in business. Can I use the 50% bonus depreciation rule on these items.
Reply With Quote
Old 02-06-2013, 09:34 AM
TomCopeland's Avatar
TomCopeland TomCopeland is offline
Business Author/Trainer
Join Date: Jun 2010
Location: St. Paul, Minnesota
Posts: 3,057
Default Depreciation

Yes, you can still claim depreciation even though you went out of business before the end of the year.
That includes your water heater and printer. Yes, you can use the 50% bonus depreciation rule on eligible items.

Join me for a webinar “2012 Tax Changes: How to Avoid Mistakes on Your Tax Return” Tuesday, February 12th at 8:30-10:00pm Eastern Time. The cost is $25 (100% tax deductible!). To register:
Reply With Quote


Thread Tools
Display Modes

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Exclusive Business Use SilverSabre25 Daycare and Taxes 6 02-09-2017 10:16 AM
Tax Consequences For Closing Daycare Logged out for privacy Daycare and Taxes 1 09-26-2012 08:39 AM
Business Checking Account? Kim Daycare and Taxes 3 06-10-2012 05:03 PM
Depreaction question when you go out of buiness legomom922 Daycare and Taxes 1 02-09-2011 09:12 AM
Taxes: Time/Space vs % of Business Use legomom922 Daycare and Taxes 4 09-21-2010 04:22 AM

All times are GMT -7. The time now is 07:38 AM.         Find A Daycare         List Your Daycare         Toys & Products                 About Us
Please read our Disclaimer before continuing.

Topics pertain mainly to the following States:

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming