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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 10-22-2018, 02:36 PM
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lovemykidstoo lovemykidstoo is offline
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Default Expenses Help Tom Copeland

I'm writing for Tom Copeland or anyone else that has an idea of what I can do. I do have Tom's book and think I'm understanding things correctly, but want to make sure.

I'm figuring things out on my kidkare expense program and wondered how I can claim or if I can claim different cable providers. We have the Direct TV app for cable channels and also have Netflix. Can I claim this and if so, what percentage. Also what about internet? What percentage?

This is what I have so far. Am I correct?

Gifts 100%. Is it $25 per person? For instance $25 a year for Johnny, $25 for Johnny's dad and $25 for Johnny's mom?

Daycare Insurance 100%
House Insurance t/s%

Supply expense: 100% (storage containers, toys, office supplies, fire alarms, crafts, attendance book) Would these things be fine here or better split?

Utilities (electric, gas, water) t/s%

Cleaning supplies/paper products (toilet paper, paper plates, napkins, paper towels etc) t/s%

Property taxes t/s%


We replaced our fence this year. Under $2,500. Can I claim and if so where?

Put new landscaping in. Plants, rock etc. Can I claim? how much?

Thank you so much
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Old 10-23-2018, 08:39 AM
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TomCopeland TomCopeland is online now
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Default Expenses

Quote:
Originally Posted by lovemykidstoo View Post
I'm writing for Tom Copeland or anyone else that has an idea of what I can do. I do have Tom's book and think I'm understanding things correctly, but want to make sure.

I'm figuring things out on my kidkare expense program and wondered how I can claim or if I can claim different cable providers. We have the Direct TV app for cable channels and also have Netflix. Can I claim this and if so, what percentage. Also what about internet? What percentage?

This is what I have so far. Am I correct?

Gifts 100%. Is it $25 per person? For instance $25 a year for Johnny, $25 for Johnny's dad and $25 for Johnny's mom?

Daycare Insurance 100%
House Insurance t/s%

Supply expense: 100% (storage containers, toys, office supplies, fire alarms, crafts, attendance book) Would these things be fine here or better split?

Utilities (electric, gas, water) t/s%

Cleaning supplies/paper products (toilet paper, paper plates, napkins, paper towels etc) t/s%

Property taxes t/s%


We replaced our fence this year. Under $2,500. Can I claim and if so where?

Put new landscaping in. Plants, rock etc. Can I claim? how much?

Thank you so much
If you are using Direct TV and Netflix with the children, then claim your time-space% of these expenses. Yes, $25 per child or parent. If you give a gift that is opened by the child in your home and the other children play with it, even once, then it's an activity expense and there is no limit on how much you can claim for activity expenses.
Insurance: yes
Keep everything you list under supplies
Utilities, cleaning, property tax: yes
Claim the time-space% of the fence on Schedule C as a repair and attach a statement electing this rule
Claim time-space% of landscaping as repair on Schedule C
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Old 10-23-2018, 07:04 PM
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Originally Posted by TomCopeland View Post
If you are using Direct TV and Netflix with the children, then claim your time-space% of these expenses. Yes, $25 per child or parent. If you give a gift that is opened by the child in your home and the other children play with it, even once, then it's an activity expense and there is no limit on how much you can claim for activity expenses.
Insurance: yes
Keep everything you list under supplies
Utilities, cleaning, property tax: yes
Claim the time-space% of the fence on Schedule C as a repair and attach a statement electing this rule
Claim time-space% of landscaping as repair on Schedule C
Perfect thank you so much!
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