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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 01-09-2020, 04:56 PM
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Julia2 Julia2 is offline
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Default Tax Credit for Home Childcare 2020

Hi, is there any tax credit for a new home daycare as a self employed for 2020, I will open my home daycare in a month for the first time, and I will be a self employed for the first time?, thank you.
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Old 01-11-2020, 08:41 AM
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Default tax credit

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Originally Posted by Julia2 View Post
Hi, is there any tax credit for a new home daycare as a self employed for 2020, I will open my home daycare in a month for the first time, and I will be a self employed for the first time?, thank you.
No, there is no special tax credit for new providers. However, there are hundreds of household expenses you can deduct. And, you can deduct the business portion of all items you owned in your home before you went into business.
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