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Chickenhauler 03:50 PM 11-24-2009
Originally Posted by Unregistered:
WHen I file my taxes can i deduct things if so what?
Yes, alot of stuff, but it has alot to do with formula's regarding the total square footage of your home compared to the square footage used in daycare (%) then a percentage of that for the hours that daycare children are present compared to the hours in the year (a % of a %).

Then you have things like food, toys, furniture and carpets (may have to do a depreciation schedule on these), cleaning supplies, etc etc.


Honestly, your best bet would be to ask other providers in your area who they have prepare their taxes. Look for a CPA who specializes in small business operated from the home, and has experience in daycare's, foster care, etc.

A good CPA can save you in taxes their fee and then some.
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