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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 05-19-2012, 02:55 PM
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svazquez1984 svazquez1984 is offline
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Default Opening A New Daycare Center

So I'm new to this and I have a load of questions but I will take it one day at a time. I am in the process of opening a daycare center and I'm at the point where I have to purchase furniture and supplies. Are these expenses that I can claim on my taxes? If so how? What other start up cost can I claim if any?
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Old 05-19-2012, 03:15 PM
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Welcome to the Daycare.com Forum! I've upgraded your status. You can post freely now.

Tom Copeland answers your question in an earlier thread here: http://daycare.com/forum/showthread.php?t=35099
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Old 05-24-2012, 01:51 PM
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Default start up expenses

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Originally Posted by svazquez1984 View Post
So I'm new to this and I have a load of questions but I will take it one day at a time. I am in the process of opening a daycare center and I'm at the point where I have to purchase furniture and supplies. Are these expenses that I can claim on my taxes? If so how? What other start up cost can I claim if any?
You can deduct all expenses that are "ordinary and necessary" to your business. This includes furniture, supplies, car expenses, rent, utilities, etc. If you are self-employed, report your expenses on Schedule C. If you are a corporation, report your taxes on the various corporate tax forms.
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Old 05-26-2012, 03:57 PM
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Does this include a new living room couch??
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Old 05-29-2012, 09:52 AM
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Default Couch?

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Does this include a new living room couch??
If you use the couch in your business, then you can deduct the business portion of it. If you do child care in your home, use your time-space % to determine the business portion. For more on the time-space %, see http://www.tomcopelandblog.com/2011/...tage-quiz.html
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