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Daycare and Taxes>Write Offs for Taxes From 2017
J & R 03:04 PM 04-19-2020
We started a daycare in 2017 trying to help friends/ family, but it was to costly. So we closed it after, just over 5 months. I was wondering if any of the purchases that we made for the daycare,can be written off, or if we still need to use the time space %?
Please help, not sure what I need to do so I can finish my taxes, Thank you for any and all info.
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Blackcat31 03:54 PM 04-19-2020
Try Tomís site, he has a ton of good searchable info there 🙂

http://tomcopelandblog.com/top-artic...rting-business
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TomCopeland 02:57 PM 04-20-2020
Originally Posted by J & R:
We started a daycare in 2017 trying to help friends/ family, but it was to costly. So we closed it after, just over 5 months. I was wondering if any of the purchases that we made for the daycare,can be written off, or if we still need to use the time space %?
Please help, not sure what I need to do so I can finish my taxes, Thank you for any and all info.
You can deduct your expenses on your 2017 tax return when you were operating your business. You can't deduct any expenses after 2017 when your business was closed.
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