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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 12-19-2018, 10:36 AM
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Default Security Camera

Tom, I was wondering if a home security system is something I can write off on taxes or at least a portion of it?
this is an outdoor security system.

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Old 12-19-2018, 11:48 AM
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Here is a previous thread on the topic: https://www.daycare.com/forum/showthread.php?t=39615

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Originally Posted by TomCopeland View Post
Yes, a surveillance system would be 100% deductible. You can use the Section 179 rule to claim it in 2011 rather than depreciating it. You could also use the 100% bonus depreciation rule to claim it this year, as well. If you plan to go out of business in the next 5 years, use the 100% bonus depreciation rule. If your state does not recognize the 100% bonus rule, use the Section 179 rule.
Enter it under "furniture, appliances" on Minute Menu (because it's considered 7 year property).
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Old 12-19-2018, 12:16 PM
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Well ours is an outdoor security system so I don't know if that would be the same benefit or not.
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Old 12-19-2018, 04:51 PM
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Quote:
Originally Posted by tenderhearts View Post
Well ours is an outdoor security system so I don't know if that would be the same benefit or not.
I would think that security is an indoor/outdoor necessity for a childcare business. Maybe Tom will add more.
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Old 12-19-2018, 04:52 PM
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Quote:
Originally Posted by tenderhearts View Post
Well ours is an outdoor security system so I don't know if that would be the same benefit or not.
Same answer, it's deductible. Unless it was purchased specifically for your business, I'd use your time-space%. It didn't make that clear in my earlier answer.
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Old 12-20-2018, 08:28 AM
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Great thank you!
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