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Daycare and Taxes>Taxes and Closing
tenderhearts 12:57 PM 07-09-2018
I was wondering what happens on taxes when you own your home and have been doing daycare and decide to close!
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TomCopeland 10:17 AM 07-10-2018
Originally Posted by tenderhearts:
I was wondering what happens on taxes when you own your home and have been doing daycare and decide to close!
There is no tax consequence regarding your home, until you decide to sell it. When you do sell it you will owe taxes on the depreciation you claimed (or were entitled to claim). Here's an article I've written about closing your business:http://tomcopelandblog.com/closing-d...-care-business
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Tags:taxes, time space percentage, time space percentage - limits, time space percentages
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