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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 03-07-2019, 08:03 PM
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Default Daycare Taxes Depr Property

Hello, we operate a home daycare in a state that allows a home investment tax credit for home daycare providers for purchases of qualified personal property used in the operation of the home daycare. The property purchased must qualify as depreciable property for federal income tax purposes to qualify for the state tax credit. This also includes section 179 property. My question is does a Full Kitchen remodel, a room used in the daycare business, qualify as "Depreciable property for federal income tax purposes"?
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Old 03-08-2019, 05:44 AM
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Default depreciation

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Originally Posted by ccdaycare View Post
Hello, we operate a home daycare in a state that allows a home investment tax credit for home daycare providers for purchases of qualified personal property used in the operation of the home daycare. The property purchased must qualify as depreciable property for federal income tax purposes to qualify for the state tax credit. This also includes section 179 property. My question is does a Full Kitchen remodel, a room used in the daycare business, qualify as "Depreciable property for federal income tax purposes"?
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The short answer is yes.
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