Daycare.com Forum Daycare Forum

Go Back   Daycare.com Forum > Daycare and Taxes

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.

Reply
 
Thread Tools Display Modes
  #1  
Old 01-20-2011, 03:11 PM
My Daycare's Avatar
My Daycare My Daycare is offline
Daycare.com Member
 
Join Date: May 2010
Location: Illinois
Posts: 236
Default 2 Questions...Tom's Books and Rent

When I rented my house, I told the landlord that I would be doing home daycare. She said OK, but she raised the rent by $50/mo for that particular reason. So, can that $50/month be written off as 100% business, while the rest of it is T/S%?

Tom. You have a lot of books. I am wondering if some of them have the same idea, but are different editions. I definitely want to order the new one that came out yesterday, but what other books would you suggest to supplement that one?

Thanks!
Reply With Quote
  #2  
Old 01-20-2011, 06:06 PM
TomCopeland's Avatar
TomCopeland TomCopeland is offline
Business Author/Trainer
 
Join Date: Jun 2010
Location: St. Paul, Minnesota
Posts: 3,066
Default Rent and books

Yes, the extra rent for your business is 100% deductible while the regular rent is a t/s% deduction.

I've written nine books on the business of family child care. The tax books are:
Family Child Care Record Keeping Guide
2010 Family Child Care Tax Workbook
2010 Family Child Care Tax Companion
Family Child Care Inventory-Keeper

How are they different? The Record Keeping Guide identifies over 1,000 allowable business deductions and describes food expenses and t/s% in great detail. The latest edition was 2010 (previous edition was from 2005). This is probably the book to start with. The Tax Workbook is if you do your own taxes. The Tax Companion is if you use a tax preparer. Neither is duplicative of the Record Keeping Guide. You only need either the Workbook or Companion, not both. The Inventory-Keeper helps you track household items to depreciate. It's not duplicated in any other book.

Other books:
Family Child Care Contracts and Policies
Family Child Care Marketing Guide
Family Child Care Business Planning Guide
Family Child Care Money Management and Retirement Guide
Family Child Care Legal and Insurance Guide
__________________
http://www.tomcopelandblog.com
Reply With Quote
  #3  
Old 01-21-2011, 05:21 AM
My Daycare's Avatar
My Daycare My Daycare is offline
Daycare.com Member
 
Join Date: May 2010
Location: Illinois
Posts: 236
Default

Makes perfect sense. Thanks!
Reply With Quote
Reply

Tags
rent, taxes, tom copeland

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Quick Questions.. Momof2Boys Daycare Center and Family Home Forum 4 05-04-2010 12:47 PM


All times are GMT -7. The time now is 02:03 AM.



Daycare.com         Find A Daycare         List Your Daycare         Toys & Products                 About Us

Daycare.com
Please read our Disclaimer before continuing.

Topics pertain mainly to the following States:

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming