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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
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Profit or Loss?
I am confused about reporting a loss. I thought you could only report a loss two years in a row. Yet I saw on a post here where some daycares declare a loss every year.
In '08 and '09 I reported a loss then in '10 I reported a profit but it was only around $300. This year I will definitely be in the red so how would I report that? Can I take the loss because it is going to be a big one, or do I just not report everything I bought??? |
#2
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Tom will probably post some information. Feb 9th is fast approaching and it would be a good idea to register for our Tax Webinar with Mr Copeland if you haven't already done so.
2011 Tax Changes for Family Child Care Providers https://www.daycare.com/news/taxes/to...d-webinar.html |
#3
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claim a loss
Quote:
Claiming occasional losses for your business is fine.
__________________
http://www.tomcopelandblog.com |
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reporting - income |
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