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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 02-07-2019, 11:47 AM
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tenderhearts tenderhearts is offline
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Default 20% Qualified Business Income Deduction

Do daycares qualify for this deduction? No one I have talked to talked to me about this except for the last guy just curious.
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Old 02-07-2019, 03:49 PM
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TomCopeland TomCopeland is offline
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Default Qualified Business Income Deduction

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Originally Posted by tenderhearts View Post
Do daycares qualify for this deduction? No one I have talked to talked to me about this except for the last guy just curious.
Yes! This is a big deal. You'll be able to reduce your federal taxable income by the lower of your business profit and your family's taxable income. I'll be writing about this on my blog next week.
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Old 02-07-2019, 06:16 PM
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tenderhearts tenderhearts is offline
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Wow that's great. I will be on the lookout for it.
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Old 02-08-2019, 06:16 AM
marshallbrown marshallbrown is offline
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What kind of deduction? I didn't get
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