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Daycare and Taxes>Tax Questions
Firefly 06:03 AM 12-03-2018
Does anyone know if I can write off a new tv? Also can I count the time it takes to shovel and snowblow towards my total hours? Thanks!
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Michael 12:46 PM 12-03-2018
We usually have a deduction thread for everything but for some reason, we don't for TV. We do have some for Snow Shoveling: https://www.daycare.com/forum/tags.p...snow+shoveling
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TomCopeland 07:16 PM 12-03-2018
Originally Posted by Firefly:
Does anyone know if I can write off a new tv? Also can I count the time it takes to shovel and snowblow towards my total hours? Thanks!
If you use your television on a regular basis for your business, multiply the cost by your time-space% and deduct it in one year. You can count the hours shoveling and snowblowing in your total hours.
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Firefly 06:26 AM 12-07-2018
Great, thank you! One more question-when I finally decide to shut down my daycare for good, how will my taxes be figured on the things Iíve been depreciating such as house, furniture, etc?
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TomCopeland 07:19 AM 12-07-2018
Originally Posted by Firefly:
Great, thank you! One more question-when I finally decide to shut down my daycare for good, how will my taxes be figured on the things Iíve been depreciating such as house, furniture, etc?
Once you close down you no longer claim any remaining depreciation. You don't have to pay anything back. I've written an article about closing your business: http://tomcopelandblog.com/closing-d...-care-business
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Tags:deduction - snow shoveling, deduction - tv, television, tom copeland, write offs
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