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Daycare and Taxes>Tom - 2 Quick Questions
JenNJ 11:47 AM 03-14-2011
I had a large unfinsished room in my home (25 x 15). During the summer and fall of 2010, my husband and I finished this room and made it into a dedicated daycare space. It has a small attached bath (also new) used only for the daycare kids and a large closet/pantry used to store all my daycare supplies and food. Am I able to claim 100% of the costs associated with building this room because it is used solely for daycare?

#2 - I purchased a swingset last spring for my daycare and my own kids to use. Can I count this cost as a write off? If so, what percentage?

TomCopeland 03:22 PM 03-14-2011
Yes, you can claim 100% of the costs of finishing this room that is used exclusively for your business. As a home improvement you must depreciate the cost over 39 years.
JenNJ 04:12 PM 03-14-2011
Thank you so much!
Tags:deduction - home improvement, home improvements, write offs
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