A Follow-Up Question From My Last Post (What Should We Do?)

Daycare Center and Family Home Forum>A Follow-Up Question From My Last Post (What Should We Do?)

vaughn40 08:27 AM 01-07-2013

I didn't know whether I should just add this question to my reply post from my other thread but here goes...In my last post I indicated that my husband and I wanted to move to a safer area and was afraid of future struggles due to my inconsistent income. The area we want to move will raise our property taxes from $2600 to $5600 a yr. Having a home business will off set a lot of those taxes with write-offs right? To at least half maybe, depending on what deductions I have? Sorry if I sound goofy.

Thanks

daycare 08:36 AM 01-07-2013

Originally Posted by vaughn40:
I didn't know whether I should just add this question to my reply post from my other thread but here goes...In my last post I indicated that my husband and I wanted to move to a safer area and was afraid of future struggles due to my inconsistent income. The area we want to move will raise our property taxes from $2600 to $5600 a yr. Having a home business will off set a lot of those taxes with write-offs right? To at least half maybe, depending on what deductions I have? Sorry if I sound goofy.

Thanks

I dont have the link to it, but I would consider purchasing Tom Copeland's book. He is the tax guru and has a book out with over 1000 tax deductable items you can claim for your daycare business.

itlw8 11:15 AM 01-07-2013

remember our SS taxes take a big jump this year. The temporary reduction in SS taxes has not been extended yet so not only will they be 2% more but the self employment part goes up also. It has been nice for the last few years but we knew it was temporary. There goes my refunds.

Reply Up