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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 04-19-2020, 04:04 PM
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J & R J & R is offline
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Default Write Offs for Taxes From 2017

We started a daycare in 2017 trying to help friends/ family, but it was to costly. So we closed it after, just over 5 months. I was wondering if any of the purchases that we made for the daycare,can be written off, or if we still need to use the time space %?
Please help, not sure what I need to do so I can finish my taxes, Thank you for any and all info.
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Old 04-19-2020, 04:54 PM
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Blackcat31 Blackcat31 is offline
 
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Try Tomís site, he has a ton of good searchable info there 🙂

http://tomcopelandblog.com/top-artic...rting-business
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Old 04-20-2020, 03:57 PM
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TomCopeland TomCopeland is offline
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Default expenses

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Originally Posted by J & R View Post
We started a daycare in 2017 trying to help friends/ family, but it was to costly. So we closed it after, just over 5 months. I was wondering if any of the purchases that we made for the daycare,can be written off, or if we still need to use the time space %?
Please help, not sure what I need to do so I can finish my taxes, Thank you for any and all info.
You can deduct your expenses on your 2017 tax return when you were operating your business. You can't deduct any expenses after 2017 when your business was closed.
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