I started my home daycare a few months ago, so I'm trying to figure out all of this confusing tax stuff for the first time. I know there are tax deductions that can be claimed for things like mortgage, insurance, utility bills, etc. However, a lot of the large bills we have (like mortgage and some of the utility bills) are paid by my husband, out of his bank account. He is also the one that goes grocery shopping, so the things that he buys at the store that I use for the daycare (diaper wipes, cleaning products, soaps, etc) are bought with his credit card. Can I still deduct these things? Or can I only deduct things that are paid for by me and/or my bank account? If that is the case, I won't be able to deduct very many things, as I don't make enough to pay all of the bills. Thanks in advance!
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Originally posted by abryann View PostI started my home daycare a few months ago, so I'm trying to figure out all of this confusing tax stuff for the first time. I know there are tax deductions that can be claimed for things like mortgage, insurance, utility bills, etc. However, a lot of the large bills we have (like mortgage and some of the utility bills) are paid by my husband, out of his bank account. He is also the one that goes grocery shopping, so the things that he buys at the store that I use for the daycare (diaper wipes, cleaning products, soaps, etc) are bought with his credit card. Can I still deduct these things? Or can I only deduct things that are paid for by me and/or my bank account? If that is the case, I won't be able to deduct very many things, as I don't make enough to pay all of the bills. Thanks in advance!
Don’t miss my February 4th webinar “Tax Changes for 2013: How to Avoid Mistakes When Filling Out Your 2013 Tax Forms.” It starts at 9pm Eastern Time and is sponsored by Daycare.com. Register here:http://events.r20.constantcontact.co...&llr=yatrx4cab
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Originally posted by TomCopeland View PostYou can deduct as a business expense any items purchased by your husband. If you weren't married you could only deduct those items you paid for. Same sex couples who are legally married in their state can also claim expenses even if paid for by the other spouse.
Don’t miss my February 4th webinar “Tax Changes for 2013: How to Avoid Mistakes When Filling Out Your 2013 Tax Forms.” It starts at 9pm Eastern Time and is sponsored by Daycare.com. Register here:http://events.r20.constantcontact.co...&llr=yatrx4cab
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domestic partners
Originally posted by MV View PostJust out of curiosity ... is it the same if the couple has a domestic partnership?
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