Tax Write Off List, Can't Find

[Michael]

...or you can just go to the Tax section, scroll rapidly down the threads and find one that says "Let's make a list" and being that it was a thread legomom started, it was a given.

Yes, but I know we are going to get a lot of deduction questions this year. The Tag suggestions dropdown only shows 10 similar words and there are over 70 for the word "deduction". I thought I would post them all to save everyone time.

[TomCopeland]

Time

I suck at this I cant find anything...

ok quick question

can we claim grocery shopping or time spent shopping for daycare ?? I forget.

MY CPA called me and said no, and I recall it being yes

No. You can only count time you spend in your home on business activities.

[TomCopeland]

Deductions

I've identified over 1,000 allowable business deductions for family child care providers in my book Family Child Care Record Keeping Guide: http://www.tomcopelandblog.com/famil...h-edition.html

[daycare]

I've identified over 1,000 allowable business deductions for family child care providers in my book Family Child Care Record Keeping Guide: http://www.tomcopelandblog.com/famil...h-edition.html

just purchased the book thanks so much tom

[Gellybean6903]

BlackCat posted a big ole list up there of work when no kids at the house ...and the third one made me wonder. It says.. "3. Mowing grass, trimming, raking, gardening, pulling weeds, watering lawn & flowers, bushes, trees."

We actually pay someone to mow, trim, blow, etc. Can we claim this as a deduction?? If so, what type of deduction is that??

[TomCopeland]

Gardening

BlackCat posted a big ole list up there of work when no kids at the house ...and the third one made me wonder. It says.. "3. Mowing grass, trimming, raking, gardening, pulling weeds, watering lawn & flowers, bushes, trees."

We actually pay someone to mow, trim, blow, etc. Can we claim this as a deduction?? If so, what type of deduction is that??

You can deduct the time-space % amount of the cost of hiring someone to do this work for you. Claim it as house repairs on Form 8829.

[KnoxMom]

You can deduct the time-space % amount of the cost of hiring someone to do this work for you. Claim it as house repairs on Form 8829.

What if you lease your home? Which of these deductions will apply? :confused:

[TomCopeland]

Lease

What if you lease your home? Which of these deductions will apply? :confused:

You can deduct the time-space % of your lease and any other house expenses you pay for: utilities, renter's insurance, repairs, etc.

[lovemykidstoo]

I know this is an old thread but things I'm referencing go with it, so hopefully Tom sees this. I see that you can claim t/s% on things such as cutting grass, different landscaping things like planting, weeding etc. We can claim the time for these or does it have to be specifically 100% daycare related to do it? I mean I will be cutting my grass regardless, so I wondered.

Also as far as receipts. I buy things from garage sales alot. How do I track that as far as a receipt? Thanks!

[TomCopeland]

time and receipts

I know this is an old thread but things I'm referencing go with it, so hopefully Tom sees this. I see that you can claim t/s% on things such as cutting grass, different landscaping things like planting, weeding etc. We can claim the time for these or does it have to be specifically 100% daycare related to do it? I mean I will be cutting my grass regardless, so I wondered.

Also as far as receipts. I buy things from garage sales alot. How do I track that as far as a receipt? Thanks!

You can count the time you spend on activities for your business that you wouldn't be doing if you weren't in business. Since you would be mowing the lawn and weeding, etc even if you weren't in business, don't count this time, although you could count part of the cost. When buying items at a garage sale, write you own note about what you bought, what it cost and when and where you bought it. Then take a picture of it.

[lovemykidstoo]

You can count the time you spend on activities for your business that you wouldn't be doing if you weren't in business. Since you would be mowing the lawn and weeding, etc even if you weren't in business, don't count this time, although you could count part of the cost. When buying items at a garage sale, write you own note about what you bought, what it cost and when and where you bought it. Then take a picture of it.

Thank you. That's what I Figured, but thought better double check.

I do know that I would never salt my driveway and shovel it every day nearly in the winter, so can I claim that time?

[buddie65]

Professional development hours

In NY there are mandated professional development hours and topics for registered providers. If the rule is that you must be within your Daycare/ home to write off the extra hours.... what about on-line PD trainings where you are doing it within your daycare/ home after regular hours? This might be another one for the list of write offs ?

[TomCopeland]

hours

In NY there are mandated professional development hours and topics for registered providers. If the rule is that you must be within your Daycare/ home to write off the extra hours.... what about on-line PD trainings where you are doing it within your daycare/ home after regular hours? This might be another one for the list of write offs ?

To count hours in the calculation of your time-space% you must be in your home when daycare children are not present. Hours spent away from your home, even if on activities exclusively for your business don't count. Doing online training for your business in your home does count.

[buddie65]

Add to list :}

Excellent ...one more for the list :}}

[EdwardNilsson]

Very interesting! Looking forward to seeing more.