Daycare.com Forum Daycare Forum

Go Back   Daycare.com Forum > Daycare and Taxes

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.

Reply
 
Thread Tools Display Modes
  #1  
Old 03-15-2016, 12:40 PM
Boymom's Avatar
Boymom Boymom is offline
Daycare.com Member
 
Join Date: Jan 2016
Posts: 355
Default Do I Need to Depreciate?

I am confused about depreciation. Do I need to depreciate anything if I am just renting? Would I still need to depreciate couches, etc if they are more than $500? Forgive my confusion, but I'm new at all of this tax stuff and I'm going crazy ha!
Reply With Quote
  #2  
Old 03-15-2016, 09:47 PM
Michael's Avatar
Michael Michael is offline
Admin & Owner-Daycare.com
 
Join Date: Aug 2007
Location: Moorpark CA, Ocean Ridge, FL
Posts: 7,812
Default

Maybe Tom Copeland can comment on this. I would think if you bought the furniture that is used in your business you can depreciate it as a time space percentage.
Her is more info on that: https://www.daycare.com/forum/tags.p...ace+percentage
Reply With Quote
  #3  
Old 03-16-2016, 07:20 AM
TomCopeland's Avatar
TomCopeland TomCopeland is offline
Business Author/Trainer
 
Join Date: Jun 2010
Location: St. Paul, Minnesota
Posts: 3,066
Default depreciation

Quote:
Originally Posted by Boymom View Post
I am confused about depreciation. Do I need to depreciate anything if I am just renting? Would I still need to depreciate couches, etc if they are more than $500? Forgive my confusion, but I'm new at all of this tax stuff and I'm going crazy ha!
A new rule says you can deduct in one year any item costing less than $2,500. See my article on this: http://tomcopelandblog.com/clarifica...-the-2500-rule
__________________
http://www.tomcopelandblog.com
Reply With Quote
Reply

Tags
depreciation - home, time space percentage

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Depreciate home CraftyMom Daycare and Taxes 2 02-01-2015 07:32 AM
How Do I Depreciate Home Improvements If I Had A Fire? melilley Daycare and Taxes 3 03-17-2014 05:07 PM
Typical Depreciation, Section 179, OR Bonus 50% Rule Abigail Daycare and Taxes 1 10-14-2013 02:13 PM
Write Off / Depreciate Bicycle tn0087 Daycare and Taxes 1 02-01-2013 10:33 AM
HOW Do I Depreciate My Home?? My4SunshineGirlsNY Daycare and Taxes 2 01-13-2011 10:30 AM


All times are GMT -7. The time now is 11:11 PM.



Daycare.com         Find A Daycare         List Your Daycare         Toys & Products                 About Us

Daycare.com
Please read our Disclaimer before continuing.

Topics pertain mainly to the following States:

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming