First Year Doing This In UT, What Can I Claim?

**Meeko** · 12-15-2011, 01:53 PM

Originally posted by Kiki

I have tried Google, and your website seems to pop up the most, so I decided to just post here and get all of my questions answered at once! I run a daycare in Utah, no, I am not licensed, yes, I follow all of the guild lines that a licensed provider would, and am not over my states limit on the number of children I have in my home without having a license.
However! I have no clue on what I can and can't claim on my taxes. I am ready as far as having year end summaries for parents and so forth, I just need help with what to do for my own taxes. Thanks in advance for any information!

Hi! I'm in Utah too!

We use HR Block @ Home software. It talks you through each step of the way. It will even ask you if you are a home day care and ask all the right questions. I also use The Redleaf press Calendar Keeper. There are places to record all your day care expenses, purchases etc. and you can just copy them over to your taxes.

Either that, or take it to a tax accountant...but we've not had any problems doing it ourselves. Just keep very good records, keep all receipts etc.

**Kiki** · 12-15-2011, 02:13 PM

Normally we use Turbo Tax for our taxes each year, I should probably check their website to see if they have an online chat so I can see if they do the same as HR Block. If not, time to switch it up I guess! Thanks!

**Meeko** · 12-15-2011, 02:24 PM

Originally posted by Kiki

Normally we use Turbo Tax for our taxes each year, I should probably check their website to see if they have an online chat so I can see if they do the same as HR Block. If not, time to switch it up I guess! Thanks!

They are both almost the same except that Turbo Tax is not as user friendly if you switch computers. For example, if you use TT this year and then need to re-install a few months from now to check something and you happen to have a new computer or use your laptop or something...it will have a tantrum and demand a new purchase code. It's a NIGHTMARE! HR Block doesn't care and you can be more flexible and re-install with no problem.

**Michael** · 12-15-2011, 03:18 PM

Originally posted by Kiki

Normally we use Turbo Tax for our taxes each year, I should probably check their website to see if they have an online chat so I can see if they do the same as HR Block. If not, time to switch it up I guess! Thanks!

Welcome to the Daycare.com Forum KiKi! I've upgraded your status. You can post freely now.

**TomCopeland** · 12-15-2011, 06:04 PM

What's deductible?

Originally posted by Kiki

I have tried Google, and your website seems to pop up the most, so I decided to just post here and get all of my questions answered at once! I run a daycare in Utah, no, I am not licensed, yes, I follow all of the guild lines that a licensed provider would, and am not over my states limit on the number of children I have in my home without having a license.
However! I have no clue on what I can and can't claim on my taxes. I am ready as far as having year end summaries for parents and so forth, I just need help with what to do for my own taxes. Thanks in advance for any information!

You can deduct all "ordinary and necessary" expenses for your business. Since you are exempt from state licensing rules, you can deduct the same expenses as licensed providers. This includes expenses associated with your home (property tax, mortgage interest, utilities, house insurance house repairs and home depreciation). In addition, you can depreciate all the household items you owned before you went into business and are now using in your business (furniture, appliances, toys, fence, bedding, and much more. Here's an article I wrote about this: http://www.tomcopelandblog.com/2011/...-expenses.html

My record keeping book lists over 1,000 allowable deductions. See my blog.

First Year Doing This In UT, What Can I Claim?

First Year Doing This In UT, What Can I Claim?

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