Daycare.com Forum
Daycare and Taxes>Paying Taxes for Zero Income???
Crafty 07:31 PM 02-06-2020
Looking for your opinion.
I opened in-home daycare in October 2019 and by some reasons haven't started yet. So my income was zero.
My husband applies his taxes including me.
What should I do?Do I need tax application separately for my in-home daycare?
Please,need your advises
Thank you!
I opened in-home daycare in October 2019 and by some reasons haven't started yet. So my income was zero.
My husband applies his taxes including me.
What should I do?Do I need tax application separately for my in-home daycare?
Please,need your advises
Thank you!
Crafty 07:41 PM 02-06-2020
Texas state
Michael 11:36 PM 02-06-2020
Welcome to the forum. Here are some threads that may be helpful: https://www.daycare.com/forum/tags.p...ly+or+separate
rosieteddy 05:40 AM 02-07-2020
I think you should be able to claim -o income. I would look into it ,possibly with a professional tax person.Start up costs should be deductible.
TomCopeland 07:14 AM 02-07-2020
Originally Posted by Crafty:
Looking for your opinion.
I opened in-home daycare in October 2019 and by some reasons haven't started yet. So my income was zero.
My husband applies his taxes including me.
What should I do?Do I need tax application separately for my in-home daycare?
Please,need your advises
Thank you!
I assume you were ready to care for children in 2019. In that case you can claim any business expenses on Schedule C and show a loss. That loss will reduce your husband's taxable income. You want to file jointly.Looking for your opinion.
I opened in-home daycare in October 2019 and by some reasons haven't started yet. So my income was zero.
My husband applies his taxes including me.
What should I do?Do I need tax application separately for my in-home daycare?
Please,need your advises
Thank you!
Crafty 06:11 PM 02-07-2020
Originally Posted by TomCopeland:
I assume you were ready to care for children in 2019. In that case you can claim any business expenses on Schedule C and show a loss. That loss will reduce your husband's taxable income. You want to file jointly.
Thank you for respond!I assume you were ready to care for children in 2019. In that case you can claim any business expenses on Schedule C and show a loss. That loss will reduce your husband's taxable income. You want to file jointly.